Management consultancy PwC joins Berlin-based data start-up

Statice, which was only founded in 2018, has gained a prominent shareholder in PwC. The management consultancy hopes that the investment will give it more opportunities to advise its clients in the field of data analysis.

The Berlin start-up Statice has a new shareholder. The German branch of management consultancy PwC is acquiring a 50% stake in the company, which specializes in the anonymization of data records. The purchase price was not initially disclosed.

Many companies want to analyze their own databases in order to optimize business processes or to be able to offer new products in a targeted manner. PwC hopes that the investment will enable it to advise its clients in this area, as Ulrich Störk, spokesman for the PwC Germany management board, explained.

In order not to violate data protection regulations during the analysis, companies must anonymize the information they have about their customers. This means that no conclusions can be drawn about the individual person from the data records. According to Statice, it generates so-called "synthetic" data from its customers' data records, which protects their privacy while continuing to provide as much information as possible. To date, Statice has primarily targeted its services at companies in the financial sector, the insurance and healthcare sectors and telecommunications providers.