Acquisition of AI and deep learning
Larsen & Toubro Infotech Ltd has signed a definitive agreement to acquire Bengaluru’s Lymbyc, a specialist AI, machine learning, and advanced analytics company.
The acquisition further strengthens LTI’s fast-growing digital and analytics offerings.
Founded in 2012, Lymbyc is headquartered in Bengaluru, India and has customers in the USA, UK, Africa, and India.
The company is well recognized for its unique capabilities in analytics and data-sciences space, said LTI on 17 July 2019.
The core of 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 visualization 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.
Sanjay Jalona, Chief Executive Officer & Managing Director, LTI, 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,” he said.
Satyakam Mohanty, Founder & CEO, Lymbyc, added: “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.
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 Wealthsuite specialist. fiinews.com
