IT Service Provider L&T Infotech Acquired Data Analytics Startup AugmentIQ Data Sciences
Global IT service provider L&T Infotech has acquired Pune-based data analytics startup. The details of the acquisition deal have not been disclosed yet.
AugmentIQ offers IP-based, big data and analytics solutions that help enterprises derive business benefits from big data.
With this acquisition, L&T Infotech will gain access to MAXIQ, the big data platform developed by AugmentIQ, which is currently servicing some of the world’s largest credit bureaus, large banks as well as regulatory agencies. MAXIQ has an end-to-end, self-service approach that enables business users to leverage big data technologies such as Hadoop & Spark easily.
Commenting on the acquisition, Sanjay Jalona, CEO & Managing Director, LTI said, “AugmentIQ is a very synergistic acquisition for LTI. Our clients are seeking big data solutions that can be implemented quickly and scale as per their requirements. AugmentIQ offers a very versatile platform that can expand instantly and enable accelerated data monetization. I am very happy to welcome AugmentIQ clients and employees to LTI family.”
Sachin Vyas, Founder & CEO, AugmentIQ said, During last four years, we have grown rapidly and are working with some major clients in India and globally. We are excited about joining forces with LTI and about the opportunity to partner with hundreds of new clients. The acquisition by LTI opens up a unique roadmap for our innovative offerings to grow and mature further.
Data analytics startup AugmentIQ was founded in December 2012 by Sachin Vyas. The startup offers end-to-end big data solutions that enable businesses manage their information assets irrespective of their type, scale and source. Also, the company’s proprietary identity resolution technology can be adopted to solve the emerging needs of regulatory authorities across all markets.
MAXIQ from AugmentIQ brings the power of automation and Do-it-Yourself (DIY) to big data. Its end-to-end, self-service approach enables business users to leverage big data technologies such as Hadoop & Spark. The proposed acquisition will enable L&T Infotech to build upon MAXIQ by integrating it within LTI’s MOSAIC Decision Science platform.