L&T Infotech acquires analytics startup AugmentIQ

IT services and solutions provider L&T Infotech has acquired 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.

The acquisition is for LTI to 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 is among the best in its class and can be adopted to solve the emerging needs of regulatory authorities across all markets.

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 & 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—designed for ease of data ingestion, data discovery, and industry-specific use cases for accelerated data-driven decision making.

Announcing the acquisition, Sanjay Jalona, CEO & Managing Director, LTI said in a statement, “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.”