Mastek to Strengthen Data Cloud and Generative AI Capabilities with Acquisition of BizAnalytica

Mastek (MASTEK; BSE: 523704), a Leading Digital Engineering & Cloud Transformation Partner, announced today its definitive agreement to acquire BizAnalytica, a premier data cloud and modernization solutions provider headquartered in Boston, USA. The strategic acquisition will bolster Mastek's global Data Cloud Services & Generative AI capabilities and grant access to a talented pool of qualified data architects and scientists.

Established in 2017, BizAnalytica offers end-to-end data cloud and modernization solutions, including architectural design, system integration, data migration, automation, management, warehousing, and analytics. The company's expertise empowers enterprises to make intelligent, data-driven decisions that drive revenue growth.

A notable aspect of BizAnalytica's portfolio is its strategic partnerships with leading cloud platforms, such as Snowflake, Databricks, and AWS, further solidifying its position in the market.

Commenting on the acquisition, Mr. Hiral Chandrana, CEO of Mastek Group, said, "As organizations increasingly embrace cloud solutions for their data, optimizing data assets throughout the value chain becomes critical for making informed decisions. This acquisition marks a pivotal milestone in accelerating our presence in data engineering, cloud services, and the rapidly evolving Generative AI domain. BizAnalytica's strong data cloud and modernization capabilities, along with its valuable partnerships with industry-leading cloud platforms, will enable us to decomplex the cloud transformation journey for our clients, delivering trust, value, and velocity."

Lokesh Khosla, CTO and Co-founder of BizAnalytica, expressed his confidence in the deal, stating, "We firmly believe that Mastek is the ideal partner to reinforce our market-specific capabilities in data cloud and Generative AI. This transition marks a turning point for BizAnalytica, and we eagerly anticipate collaborating with our joint customers in their transformation journey. With shared cultural values and vision, BizAnalytica will bring numerous opportunities and contribute significantly to Mastek's growth story."

Arun Agarwal, Global Chief Financial Officer, "We are excited about the strategic acquisition of BizAnalytica, as it aligns perfectly with our vision of driving innovation and growth in the digital landscape. The addition of their data cloud and modernization expertise will enhance our capabilities and propel Mastek to new heights in the realm of Cloud Data and Generative AI services. This move reflects our commitment to providing our clients with cutting-edge solutions, leveraging the power of data to make informed decisions and stay ahead in the competitive market."

Mastek remains committed to unlocking the power of data, modernizing applications to the cloud, and accelerating digital advantage for businesses worldwide. This acquisition marks a pivotal moment in our journey as we further solidify our position as a digital engineering and cloud transformation leader.

Shares of Mastek Limited was last trading in BSE at Rs. 2170.90 as compared to the previous close of Rs. 2152.85. The total number of shares traded during the day was 30664 in over 3918 trades.

The stock hit an intraday high of Rs. 2254.40 and intraday low of 2125.00. The net turnover during the day was Rs. 67392249.00.

Source : Equity Bulls

Keywords

Mastek INE759A01021 Agreement Acquisition BizAnalytica