L&T Infotech acquires analytics startup AugmentIQ

MUMBAI: Leading global IT services and solutions provider L&T Infotech will acquire Pune-based AugmentIQ Data Sciences, a startup offering IP-based, big data and analytics solutions that help enterprises derive business benefits from big data. As a result of this acquisition, LTI will 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. Also, the proprietary identity resolution technology from AugmentIQ is among the best in its class and can be adopted to solve the emerging needs of regulatory authorities across all markets.

The press release stated that 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 easily. It connects the power of these technologies to real business outcomes in a fraction of usual time and cost. 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. It comes pre-packaged with more than 20 industry-specific machine learning algorithms based on deep learning techniques to jump-start the analytics journey of an organization with prescriptive and predictive analytics across business functions. MOSAIC Decision Science is powered by Microsoft Azure services in a cloud-native solution.

Announcing 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.”