Technology solution provider CEI has acquired Chennai-based Fourth Dimension Technologies, an IT Solutions and Managed service provider (MSP) with a global footprint and 35 years of experience. The acquisition is expected to significantly expand CEI’s service portfolio and its ability to deliver technology solutions to clients across the globe.

Founded in 1992, CEI has expertise in Technology Strategy & Advisory Services, Custom Technology Solutions, Cloud Solutions, Artificial Intelligence, Managed IT Services, and Staffing. 

Fourth Dimension, founded by Jagannathan Narayan, has been providing IT solutions and managed services for over three decades for clients spanning diverse industries such as banking and financial services, manufacturing, and healthcare. This includes 24×7 coverage, Cloud Management (CSP), Managed Security Services (MSSP), Managed IT and Service Desk (Hybrid as well as Cloud), Mobile Device Management, and IT Infrastructure observability and support. Additionally, Fourth Dimension strengthens CEI’s existing partnerships with Microsoft and expands its reach to include industry leaders like Cisco, VMWare, Fortinet, and RSA.

“We are thrilled to welcome the Fourth Dimension team to the CEI family,” said D. Raja, CEO of CEI. “This acquisition is a significant step forward in our mission to provide our clients with the most comprehensive and innovative technology solutions available. Fourth Dimension’s expertise in managed services and their global reach perfectly complement our existing offerings, allowing us to deliver an exceptional level of service and support to a wider audience, while also expanding our offerings to our current clients.”

“Joining forces with CEI represents an exciting opportunity for both of our organizations,” said Jagannathan Narayanan, CEO of Fourth Dimension. “By combining our resources and expertise, we can create a truly unique offering that will empower our clients to thrive in today’s dynamic technological environment.”

The financial terms of the deal were not disclosed.

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The UK edtech unicorn Multiverse, which builds apprenticeship programs, has acquired Searchlight, a talent intelligence and skills assessment platform that uses AI to help companies close their skills gaps.

California-based Searchlight was founded in 2018 by twins Anna Wang and Kerry Wang. The Stanford graduates started their journey with Y Combinator, and have since been recognized by Forbes 30 under 30. The company also received investment from top venture capital firms including Founders Fund and Accel.

Accelerating AI implementation at Multiverse

The combination of Searchlight’s technology and talent will accelerate the use of generative AI and machine learning at Multiverse. Searchlight’s custom-built and bias-free AI engine will enhance Multiverse’s ability to identify, analyze, and close skills gaps within organizations through programs that are closely mapped to customer business needs, the company stated. 

Multiverse partners with more than 1,000 organizations to deliver training in areas such as data analytics and software engineering. Its training model is built on a new kind of apprenticeship that is measured, applied, guided, and equitable, and its tech platforms exist to ensure learners have access to a high-quality, personalized experience that delivers measured ROI for their employers.

Searchlight is the second acquisition for the company, following the purchase of Eduflow, another Y Combinator company, in May 2023.

The Searchlight team will join Multiverse to spearhead the integration of its talent intelligence technology into Multiverse’s platform and lead Multiverse’s AI initiatives. Searchlight’s CEO, Kerry Wang will become Director of Product. Searchlight’s CTO, Anna Wang, will become Head of AI.

Founder and CEO of Multiverse, Euan Blair, said: “After meeting Anna and Kerry and digging into the Searchlight product, I was really excited at how they were using AI to spot patterns and identify skilling solutions both within and outside of the workforce. Most companies are on a journey of tech transformation and they want to do it in a way that is both equitable and effective. What often holds them back is the gap between the transformation they want to see, and the skills that will unlock it.” 

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Cisco announced that it will acquire cybersecurity and observability company Splunk for $157 per share in cash, representing approximately $28 billion in equity value. 

Forbes reported that the acquisition marks “one of the largest acquisitions of 2023 and the AI era”.

Splunk’s AI powered security and observability offerings are used by organizations worldwide. The company has the likes of Coca Cola, Honda, Dominos and Hyatt as key customers. It holds over 1,100 patents in the field.  

Post the acquisition, Splunk President and CEO Gary Steele will join Cisco’s Executive Leadership Team reporting to Chair and CEO Chuck Robbins.

With the addition of Splunk capabilities and and products to the portfolio, Cisco aims to address the security concerns arising from the accelerated adoption of Generative AI and multicloud environments. The company said that Splunk’s security capabilities complement Cisco’s existing portfolio, and together, will provide security analytics and coverage from devices to applications to clouds. 

“We’re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,” said Chuck Robbins, chair and CEO of Cisco. “From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”

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