Bengaluru-based multinational IT firm Mphasis has acquired Theory and Practice Business Intelligence Inc (TAP). The acquisition has an upfront consideration of CAD 10 million (₹68.5 crore) at closing, with management milestone-based, multi-year contingent consideration of up to CAD 20 million.
TAP is a Canada-based technology company that developed Continuum AI, a decision intelligence platform that combines AI with behavioural economics to improve business decision-making and understanding buyer behaviour. Established in 2018, TAP guides leading enterprises in financial services, retail, and consumer packaged goods (CPG) to turn their data into decisions.
According to a regulatory filing by Mphasis, TAP had turnover of CAD 1.71 million in FY25 (including annual recurring revenue), CAD 3.13 million in FY24, and CAD 3.09 million in FY23.
Collaborative efforts
Mphasis and TAP, with collaborative efforts, look to bring expertise in AI across domains like pricing, demand forecasting, marketing and supply chain decisions.
TAP’s Continuum AI accelerates time to value and enables more sophisticated decision-making through advanced AI capabilities, prebuilt machine learning models, and reusable model ontologies across areas such as revenue optimisation, marketing, and promotions.
“TAP’s Continuum AI will be a key catalyst for NeoIP, introducing a critical decision intelligence layer that can drive measurable economic outcomes for Enterprises. Over 80 per cent of AI spending is projected to be directed towards business reimagination, extending Mphasis’ reach into a critical segment of AI spending initiatives,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
“Built on advanced AI and deep behavioural economics capabilities, this combination allows us to move beyond task automation, towards systems that can reason over business objectives, constraints, and domain context, to deliver these outcomes,” he said.
Rogayeh Tabrizi would be joining Mphasis’ leadership team as Executive Vice President - CPG and Head of Decision AI.
“Combined with Mphasis’ scale, industry-vertical expertise, ontology capabilities, and execution infrastructure, we now have the opportunity to turn these domain-specific successes into reusable decision assets that can be deployed, governed, and scaled across industries,” said Rogayeh Tabrizi, Founder & CEO, Theory and Practice.
“Together, we are building a path for Enterprises from experimentation to repeatable and scalable value and business reimagination using AI. Our combined capabilities will enable clients to move beyond isolated pilots and unlock faster, more meaningful business decisions with intelligence, speed, and measurable impact,” he said.
Mphasis’ shares closed at ₹2,346.00 today, down by 3.02 per cent.
Published on April 22, 2026