L&T Infotech announces to buy AugmentIQ

L&T Infotech (LTI) will acquire Pune-based AugmentIQ Data Sciences, an innovative start-up offering IP-based, big data and analytics solutions that help enterprises derive business benefits from Big Data. 

This acquisition will help L&T Infotech gain access to MAXIQ, the big data platform developed by AugmentIQ. This technology can be adopted to solve the emerging needs of regulatory authorities across all markets. 

Announcing the acquisition, Sanjay Jalona, CEO & Managing Director, LTI, said, “AugmentIQ is a very synergistic acquisition for L&T Infotech. 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 the LTI family.” 

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 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 L&T Infotech has been 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. 

Sachin Vyas, Founder & CEO, AugmentIQ, said, “During the 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.”