Global IT services and solutions provider L&T Infotech (LTI) is all set to acquire Pune-based AugmentIQ Data Sciences Pvt. Ltd, a startup offering IP-based, big data and analytics solutions that help enterprises derive business benefits from big data.
Talking about 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 monetisation. I am very happy to welcome AugmentIQ clients and employees to LTI family.”
AugmentIQ was founded in December 2012 by Sachin Vyas. It offers end-to-end big data solutions that enable businesses manage their information assets irrespective of their type, scale and source.
With the acquisition, LTI will gain access to MAXIQ, the big data platform developed by AugmentIQ. MAXIQ currently services credit bureaus, large banks, as well as regulatory agencies. Also, the proprietary identity resolution technology from AugmentIQ can be adopted to solve the emerging needs of regulatory authorities across all markets.
MAXIQ from AugmentIQ has an end-to-end, self-service approach that enables business users to leverage big data technologies such as Hadoop & Spark easily.
According to a company statement, the proposed acquisition will enable LTI to build upon MAXIQ by integrating it within LTI’s MOSAIC Decision Science platform. MOSAIC Decision Science from LTI is designed for ease of data ingestion, data discovery, and industry specific use cases for accelerated data-driven decision making.
Earlier in August 2016, Big Data startup, Innovaccer raised $15.6 Mn in Series A led by Westbridge Capital Partners with participation by other angel investors. With this move, Sumir Chadha, Managing Director of Westbridge has joined the board of the company. Other startups in this segment include BRIDGEi2i, Qubole, etc.