Tech Mahindra Ltd has informed BSE that it has entered into an agreement to acquire 75% stake in big data analytics company FixStream Networks Inc, for $10 million, reports Medianama. The company also disclosed that FixStream is working on a technology that will benefit Tech Mahindra’s customer base.
The company was founded in May 2013 by Abhinay Padhye and Sameer Padhye. FixStream Network has a data integration and analytics platform focused on datacenter and cloud management. It claims to have tools that can visualize issues faced in a datacenter and also create app specific environments. The developed technology platform mines hidden insights, patterns and unknown correlations from huge amount of data in datacenters. The company located in Bangalore and California has some impressive clients including DirecTV, Century Link and Cisco Systems.
The latest news comes close on the heels of Tech Mahindra partnering with Texas Instruments to setup a lab called Texas Instruments Lab that will focus on developing solutions based on the ‘Internet of Things’ (IoT) in Bangalore.
The move indicates the growing interest of Indian IT companies in SMAC (social, mobility, analytics and cloud services) space. Earlier in the month of February Pune-based Persistent Systems Ltd, acquired Pune and California based CloudSquads Inc, an enterprise social apps platform, for an undisclosed sum. The acquisition was looked upon as an addition to Persistent’s growing clout over the SMAC (social, mobile, analytics and cloud) technology.
Other IT firms such as TCS, Wipro, Infosys, HCL and Cognizant have been also investing in the SMAC space.
Interestingly, this acquisition settles the latest rumour of Tech Mahindra discussing a large minority stake in Simplify360, as part of strategic initiatives to bolster its SMAC (social, mobility, analytics and cloud services) offering to clients.