Advance is acquiring 1010data as interest in providing Big Data analytics solutions continues to grow.
The global media group will be purchasing the analytics firm for $500 million with the goal of expanding its operations through capital investment.
Advance is better known for a portfolio that is filled with traditional media properties, for example it is the parent company for Condé Nast, which publishes Vanity Fair, Wired, Vogue and the New Yorker.
The company it is acquiring is hired to analyse large data sets, basically outsourcing data analytics so that the company it is hired by isn’t required to set up the necessary IT systems to do this work.
The analytics market has recently seen an increase in the uptake of these types of analytics firms, as companies seek to avoid costly Big Data integration projects.
It would appear that Advance sees the potential for this market to be a nice money maker for them, with the market expected to reach $125 billion in 2015, according to IDC.
1010data has plenty of competition in the analytics market such as SAS and Cloudera, but additionally cloud services that are offered by the likes of IBM, Microsoft and Blue Yonder.
The analytics firm currently has a strong customer base in the likes of retail, manufacturing, telecoms and financial services.
Advance’s position in the media market could help open up new lines of revenue as media firms look to utilise their Big Data to financial gain.
