IT major L&T Infotech announces acquisition of Pune-based AugmentIQ

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IT services and solutions supplier L&T Infotech today reported acquisition of Pune-based AugmentIQ Data Sciences, a startup offering IP-based, huge information and examination answers .The amount of the deal as reported,valued Rs 7 crore on a ‘nil cash nil debt’ basis and also as reported to Bombay Stock Exchange AugmentIQ in the FY 2016 has a revenue of 2.4 crore .

As per statement given by Sanjay Jalona, CEO of L&T Infotech, AugmentIQ is an exceptionally synergistic acquisition and name to add to the LTI family. Their customers are looking for big data solutions arrangements that can be executed rapidly and scale according to their necessities. AugmentIQ offers an extremely diverse and resourceful platform that has the power and capability to extend immediately and empower accelerated monetization of data.

With acquisition of this startup, LTI will have access to MAXIQ, the platform for big data created by AugmentIQ. MAXIQ right extends its services to credit authorities, large banks, and regulatory agencies. Additionally, the proprietary identity resolution technology and innovation from AugmentIQ can be received to comprehend the rising needs of administrative authorities across all business sectors.

As per an organization proclamation, the proposed acquisition will also empower LTI to expand upon MAXIQ by incorporating it inside LTI’s MOSAIC Decision Science platform.MOSAIC Decision Science from LTI is intended for simplicity of information ingestion, information disclosure, and industry particular utilize cases for accelerated data-driven decision making.

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Madhurima Goyal, From ITvoir News Desk

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