IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Mindtree acquires AI startup to meet Industry 4.0 demand

The Indian company hopes to reposition its analytical services to cater for new digital transformation projects

Digital transformation and technology services company Mindtree is set to acquire NxT Digital Business, a cloud based IoT and AI platform, to help it better meet customer demand for analytical services with Industry 4.0 in mind.

NxT Digital Business was founded as a startup with broad digital capabilities within Larsen & Toubro (L&T), an Indian multinational technology company which Mindtree is also part of.

The acquisition was reportedly valued at Rs 198 crore (approximately £19 million) and is expected to be completed by July 31, 2021, as seen in a filing by Business Today.

The company hopes the acquisition will bring scale and market agility to meet the growing end-to-end digital transformation demands of its customers, and also help to facilitate the move to Industry 4.0.

Mindtree will use NxT Digital Business’ capabilities across several industry segments in integrating sensors and telemetry data with its advanced data analytics, including manufacturing and engineering, in a bid to create operational efficiencies and a differentiated customer experience, the company said.

“There is a huge opportunity ahead as global manufacturers and industrial companies are increasingly adopting Industry 4.0 focused smart solutions, systems, and processes, but are struggling to leverage data and analytics to drive efficiency and competitive advantage,” said S. N. Subrahmanyan, CEO & managing director at L&T.

Related Resource

10 keys to AI success in 2021

The challenges and rewards of AI

10 keys to AI success - whitepaper from DataRobotDownload now

“NxT Digital Business experience, talent, expertise and credentials, coupled with Mindtree’s global scale, technology leadership, and deep understanding of domain and delivery, are a powerful combination of focus and capabilities to meet clients’ requirements.”

In December, Mindtree teamed up with data and AI company Databricks to help customers implement cloud-based data platforms for self-service analytics, to enable users to analyse data, develop rapid reports and gain valuable insights without extensive IT support. Through the partnership, Mindtree said it will use Databricks’ unified solution to enable seamless implementation of self-service analytics to promote data-driven decision-making.

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Recommended

Skills shortages expected to hit over 90% of Australian and New Zealand businesses
Careers & training

Skills shortages expected to hit over 90% of Australian and New Zealand businesses

28 Jun 2022
Why India wants to become a chipmaking powerhouse
components

Why India wants to become a chipmaking powerhouse

28 Jun 2022
Samsung fined $14 million over misleading water resistance claims across its Galaxy smartphones
Mobile Phones

Samsung fined $14 million over misleading water resistance claims across its Galaxy smartphones

23 Jun 2022
Toshiba eyes $22bn buyout offer in bid to go private
Business strategy

Toshiba eyes $22bn buyout offer in bid to go private

23 Jun 2022

Most Popular

Actively exploited server backdoor remains undetected in most organisations' networks
cyber attacks

Actively exploited server backdoor remains undetected in most organisations' networks

1 Jul 2022
Macmillan Publishers hit by apparent cyber attack as systems are forced offline
Security

Macmillan Publishers hit by apparent cyber attack as systems are forced offline

30 Jun 2022
Former Uber security chief to face fraud charges over hack coverup
data breaches

Former Uber security chief to face fraud charges over hack coverup

29 Jun 2022