L&T Infotech to buy Analytics start-up

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Leading IT services provider L&T Infotech on Tuesday announced acquisition of Pune-based analytics start-up AugmentIQ Data Sciences Ltd. for an undisclosed amount.
"The acquisition will enable us to gain access to MaxIQ, the big data platform AugmentIQ developed and used by one of the world's largest credit bureaus, lead banks and regulatory agencies," said Infotech in a statement here.

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The four-year-old start-up offers Intellectual Property (IP)-based high-end analytics to enterprises worldwide to derive business benefits from big data.

The deal will enrich the IT arm of Larson & Toubro (L&T), the Mumbai-based Indian multinational with diverse businesses, including engineering, construction, manufacturing and financial services.

MaxIQ 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.

"The acquisition will also help us to build upon MaxIQ by integrating it within our Mosaic Decision Science platform for ease of data ingestion, data discovery and industry specific use cases for accelerated data-driven decision-making," said the statement.


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