Just after closing a takeover of the mid-tier firm Mindtree, engineering company Larsen & Turbo, through its IT service subsidiary L&T Infotech, is now looking to acquire the AI and ML firm Lymbyc Solutions Pvt Ltd, according to the report which has been reported by the BSE.
LITI, in the report, revealed that the acquisition for the price of INR 38 crore is expected to be closed within the coming six months.
Lymbyc Solutions, which has its registered office in Chennai and operations in Bangalore, provides the advanced analytics services with the help of its proprietary product called the Leni.
Lymbyc which was incorporated in the year 2012, as of now 53 employees which include the computational linguistics, data scientists and some other technology experts. The company has also reported a revenue of around INR 7.1 crore for the year ended 2019.
LTI revealed that the acquisition would help in enhancing the company Natural language Processing and data visualization offerings in various industry segments. The company has also added that it will also complement its platform that provides data engineering, automation solutions, analytics, and Internet of things.