Larsen & Toubro Infotech to acquire Bengaluru-based Lymbyc
Larsen & Toubro Infotech (LTI) on Wednesday said it will acquire Bengaluru-based advanced analytics company Lymbyc for an enterprise value of Rs 38 crore.
The acquisition will bolster the advanced analytics, natural language processing and data visualisation capabilities of LTI, thereby enabling us to offer differentiated analytics solutions to clients, the company said in a regulatory filing.
"The enterprise value for 100 per cent share capital of Lymbyc is Rs 380 million on a cash-free, debt-free basis, which will be paid as a combination of upfront and three-year earn-out payments," it said.
It added that the consideration value is subject to working capital adjustments.
The transaction is expected to be completed in four-six weeks.
“We believe self-service capabilities for artificial intelligence (AI) and advanced analytics will be the next wave of disruption in the marketplace, and Lymbyc brings this capability to our Mosaic platform," LTI CEO and Managing Director Sanjay Jalona said.
Satyakam Mohanty, founder and CEO of Lymbyc, said LTI and Lymbyc have been strategic partners for the last one year.
The companies have collaborated to deliver solutions to several leading global enterprises.
Founded in 2012, Lymbyc is headquartered in Bengaluru, and has customers in the US, the UK, Africa and India. It has 53 employees, which includes data scientists, computational linguistics, and technology experts. Its revenues in FY19 stood at Rs 7.1 crore.
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.
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