IT solutions and services provider tech conglomerate L&T Infotech has acquired AugmentIQ Pvt. Ltd. for an undisclosed amount. The Pune-based startup firm helps in providing IP-based offerings, big data and analytics solution which would now support the tech giant to help various enterprises derive business benefits from sharing big data analytics.
The acquisition would help L&T expand in high-end analytics offerings in various industries hence enriching the Information Technology sector. Moreover, the acquisition will help the firm gain access to MAXIQ, the big data platform created by AugmentIQ. The Pune-based firm runs and provides one of the world’s largest credit bureaus, regulatory agencies and large banks.
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According to Sanjay Jalona, MD & CEO, LTI,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.
Founded in December 2012 by Sachin Vyas AugmentIQ Pvt. Ltd. aims to offer end-to-end data solutions which enable varied enterprises to manage their information assets such as source, scale, type, etc. The big data platform MAXIQ helps the Pune-based startup to bring in the power of automation and Do-It-Yourself approach helps other businesses to leverage hugely coveted technologies such as Spark, Hadoop, etc. easily. The acquisition would now lead to seeking proprietary identity resolution technology which can be further adopted to solve the emerging needs across the market.
The acquisition would now lead to seeking proprietary identity resolution technology which can be further adopted to solve the emerging needs across the market. Also, it would integrate MAXIQ within LTIs Mosiac Decision Science Platform which is designed for ease of data ingestion, data recovery and industry uses specific cases for accelerated data-driven decision making.