IT services and solutions provider L&T Infotech on Tuesday announced that it will acquire Pune-based AugmentIQ Data Sciences, a start-up offering IP-based, big data and analytics solutions for an undisclosed sum.
The acquisition of the start-up will enrich and expand L&T Infotech’s high-end analytics offerings across industries, the company said in a statement here.
“AugmentIQ is a very synergistic acquisition for L&T Infotech (LTI). Our clients are seeking big data solutions that can be implemented quickly and scale as per their requirements,” Sanjay Jalona, CEO & Managing Director, LTI, was quoted in a statement.
“AugmentIQ offers a very versatile platform that can expand instantly and enable accelerated data monetisation,” added Jalona.
Further, the acquisition will help LTI gain access to MAXIQ, the big data platform developed by AugmentIQ, which is currently servicing one of the world’s largest credit bureaus, large banks as well as regulatory agencies, said the statement.
MAXIQ from AugmentIQ brings the power of automation and Do-it-Yourself (DIY) to big data and its end-to-end, self-service approach enables business users to leverage big data technologies such as Hadoop & Spark easily, it added.
The acquisition will enable L&T Infotech to build upon MAXIQ by integrating it within LTI’s MOSAIC Decision Science platform.