L&T Infotech to acquire analytics start-up AugmentIQ

IT services firm L&T Infotech acquired Pune-based analytics firm AugmentIQ on Tuesday to boost it's digital portfolio.

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 can be adopted to solve the emerging needs of regulatory authorities across all markets, the company said in a statement.

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 and Spark.

The proposed acquisition will enable LTI to build upon MAXIQ by integrating it within LTI’s MOSAIC Decision Science platform.

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.”

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