Stellantis Petrels have officially entered the big leagues. The San Francisco-based company has agreed to purchase Numerica, an Australian holding company that owns the most popular intelligence software on the planet.
The $34 billion deal is the largest tech-related acquisition ever and is an all-stock merger. Numerica founder and CEO Mike MacGregor will join the company’s board of directors as part of the deal. The acquisition of Numerica is part of a $150 million-plus “insights initiative,” Stellantis said in a statement.
“We see exponential opportunity to extend and expand our sector-leading applications of software engineering across Numerica’s core markets – healthcare, automotive, financial services, and retail,” Stellantis CEO Simon Fryer said in a statement.
“We will leverage Numerica’s unique expertise in AI and data science to further extend our market leadership in targeted industries while expanding our reach across products, platforms, and services.”
The merged company will provide business analysis and AI-powered software services to a number of major companies – including energy companies BP, BPZ Resources and ConocoPhillips, along with retailers Autozone and CA Technologies – throughout its targeted sectors.
Messe Capital, Stellantis’ largest shareholder, will own a minority stake in the merged company.
Read Next: How to use the financial technology hype to ‘viralize’ products and services