LTI says the acquisition will enhance its Mosaic platform with deep learning, NLP, and visualisation capabilities.
17 Jul 2019 | 10026 Views | By Autocar Professional Bureau
Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, today announced that it has signed a definitive agreement to acquire Bangalore-based Lymbyc, a specialist AI, machine learning, and advanced analytics company. LTI says the acquisition will further strengthen its fast-growing digital and analytics offerings.
Founded ...
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Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, today announced that it has signed a definitive agreement to acquire Bangalore-based Lymbyc, a specialist AI, machine learning, and advanced analytics company. LTI says the acquisition will further strengthen its fast-growing digital and analytics offerings.
Founded in 2012, Lymbyc at present serves its wide-customer base in India, USA, UK and Africa. LTI says the company is well recognised for its unique capabilities in analytics and data-sciences space. Lymbyc’s capabilities are centered around a 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.
The company says with growing dependence on data, global enterprises need to have access to 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.
Sanjay Jalona, CEO and MD, Larsen & Toubro Infotech, said: “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. 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.”
Satyakam Mohanty, founder and CEO, Lymbyc said: “As a strategic business partner of LTI during last year, we have seen first-hand how LTI is leading data and digital transformation agenda for its clients. 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 maximize their information and analytics investments.”
LTI and Lymbyc have been strategic partners for last one year, and have collaborated to deliver unique solutions to several leading global enterprises.
This will be 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 Wealthsuite specialist.