New Delhi, Aug 30 (PTI) Larsen & Toubro Infotech (LTI) on Friday said it has completed the acquisition of Bengaluru-based advanced analytics company Lymbyc.
In July, the company had announced the acquisition of Lymbyc for an enterprise value of Rs 38 crore.
“The company has completed acquisition of 100 per cent shareholding of Lymbyc. Consequently, Lymbyc is now a wholly-owned subsidiary of the company,” according to a regulatory filing.
Lymbyc Solutions has its registered office in Chennai and is headquartered in Bengaluru and has an office in Texas in the US, the filing added.
LTI had, in July, said the acquisition will bolster its advanced analytics, natural language processing and data visualisation capabilities, thereby enabling it to offer differentiated analytics solutions to clients.
Founded in 2012, Lymbyc — Previously known as Ma Foi Analytics– has customers in the US, the UK, Africa and India. It has 53 employees, including data scientists, computational linguistics and technology experts, and its revenues in 2018-19 stood at Rs 7.1 crore, the July filing had said.
For its name i.e Lymbyc, the company took inspiration from the “Limbic” brain — the part that stores, dissects, rationalizes and generates memories and actions. And, the company resonates the name by giving business users the power of a virtual analyst that is intuitive, actionable and context driven to answer all their business queries.