AECOM acquires Norway-based AI startup Consigli for $390 mn
US-based global infrastructure consulting company AECOM has acquired Consigli, an artificial intelligence company based in Oslo, Norway in a transaction reportedly valued at about 4 billion Norwegian kroner (about $390 million).
The Texas-headquartered AECOM, engaged globally in infrastructure consulting and engineering, is looking to expand its technical consulting bandwidth with the acquisition of the five-year old Norwegian company. The US giant expects to use the acquisition as a strategic differentiator in an industry where it competes with other behemoths including Jacobs Solutions, Bechtel and Fluor, among others.
According to media reports, Aecom and Consigli had previously worked together on several projects. Consigli founder and CEO Janne Aas-Jakobsen will take up the role of head of AI engineering at AECOM.
Consigli develops AI-based tools for building and infrastructure design and engineering.
According to Norwegian business newspaper Dagens Næringsliv, Consigli claims its technology can reduce engineering time by up to 90 per cent and cut material usage by roughly 20 per cent. AECOM has said the acquisition is intended to shorten design cycles, reduce early-stage project risk, and improve material efficiency.
