Larsen & Toubro Infotech Ltd, the IT
services arm of infrastructure major Larsen & Toubro Ltd has signed a
definitive agreement to acquire artificial intelligence, machine learning
and advanced analytics company Lymbyc.
This marks L&T’s fifth acquisition since
its listing in 2016. In January, the firm acquired Ruletronics, which uses the
Pega platform for business process management and customer relationship
management solutions. A month later, it also acquired Germany-based Nielsen
Partner, which specializes in Temenos WealthSuite, an integrated software
solution for wealth managers.
Founded in 2012, Lymbyc is a Bengaluru-based
firm, known for its capabilities in analytics and data-sciences space. The
company leverages its proprietary product Leni, a virtual analyst that allows
users to conversationally access information and insights, to solve descriptive
to predictive business insights, leveraging deep learning, natural language
processing, data visualization, and predictive analytics. The company has
customers in the US, the UK, Africa, and India.
The acquisition will complement the analytics,
natural language processing and data visualization capabilities of its in-house mosaic platform, helping it improve its data discovery, analytics and ability
to process large datasets, the company said. Before Lymbyc acquisition both
firms had also worked as strategic partners for a year.
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