L&T Infotech to acquire Bengaluru-based Lymbyc
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L&T Infotech said on Wednesday that it is set to acquire Bengaluru-based firm Lymbyc that specialises in artificial intelligence, machine learning and advanced analytics. This would be L&T Infotech’s (LTI) fifth acquisition since its listing in 2016. The transaction is expected to close within four to six weeks with the 100% acquisition to be done via cash. LTI said the enterprise value for 100% share capital of Lymbyc is Rs 38 crore on a cash-free, debt-free basis which will be paid as a combination of upfront and three-year earn-out payments.
LTI said the acquisition will bolster its advanced analytics, natural language processing and data visualisation capabilities. The platform compliments well with LTI’s mosaic platform, it added. Founded in 2012, Lymbyc is headquartered in Bengaluru and has customers in the USA, UK, Africa, and India. The company has capabilities in analytics and data-sciences space.
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 visualisation and predictive analytics. Leni is a virtual analyst that allows users to conversationally access information and insights.
Lymbyc has 53 employees, which includes data scientists, computational linguistics, and technology experts. The revenue for fiscal year 2019 (FY19) stood at Rs 7.1 crore.
Sanjay Jalona, chief executive officer and managing director at LTI, said self-service capabilities for AI and advanced analytics will be the next wave of disruption in the marketplace, and Lymbyc brings this capability to LTI’s Mosaic platform. ”
Leni by Lymbyc is an industry-agnostic platform that solves business user’s need for experience, speed, and comprehension,” he said. Earlier this year, LTI had acquired Ruletronics, a boutique Pega Consulting company, and N+P (NIELSEN+PARTNER), a Temenos Wealthsuite specialist.
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