L&T Infotech acquires advanced analytics firm Lymbyc
Mumbai (Maharashtra) [India], July 17 (ANI): Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has signed a definitive agreement to acquire Lymbyc -- a specialist AI, machine learning and advanced analytics company.
ANI
Jul 17, 2019 13:40 IST
Mumbai (Maharashtra) [India], July 17 (ANI): Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has signed a definitive agreement to acquire Lymbyc -- a specialist AI, machine learning and advanced analytics company.
The acquisition with an enterprise value of Rs 38 crore strengthens LTI's fast-growing digital and analytics offerings, the company said in a statement on Wednesday.
Lymbyc is the fifth acquisition by LTI since the company got listed in 2016. Earlier this year, the company acquired Ruletronics, a boutique pega consulting company, and N+P (Neilsen+Partner), a Temenos wealth suite specialist.
Founded in 2012, Lymbyc is headquartered in Bengaluru and has customers in the United States, Britain, Africa and India. The company is recognised for its unique capabilities in analytics and data-sciences space.
The core of Lymbyc's capabilities is centred around its proprietary product Leni which solves for the entire spectrum of descriptive to predictive business insights, leveraging deep learning, natural language processing, data visualisation and predictive analytics.
Leni is a virtual analyst that allows users to conversationally access information and insights. With growing dependence on data, global enterprises need to be better at data discovery, agile analytics and ability to process large datasets. Lymbyc's expertise in these spheres will enhance LTI's Mosaic platform to provide differentiated analytics solutions in a SaaS model.
"We believe self-service capabilities for AI and advanced analytics will be the next wave of disruption in the marketplace, and Lymbyc brings this capability to our Mosaic platform," said LTI's Chief Executive Officer and Managing Director Sanjay Jalona.
"Leni by Lymbyc is an industry-agnostic platform that solves business user's need for experience, speed and comprehension. I welcome Lymbyc's experienced management team and all its employees to the LTI family."
Lymbyc's Founder and CEO Satyakam Mohanty said: "With AI becoming increasingly mainstream, we are excited to join hands with LTI and to help a larger and richer set of clients. Leni, our AI-based virtual analyst is perfectly suited to deliver better value to business users and maximise their information and analytics investments." (ANI)
Get the App
