Mastek Ltd to acquire BizAnalytica to strengthen Data Cloud and Generative AI Capabilities

Mastek Limited announced today its definitive agreement to acquire BizAnalytica, a premier data cloud and modernization solutions provider headquartered in Boston, USA.

The Company’s Wholly Owned First Level Step-down Subsidiary i.e., Mastek Inc. will acquire the 100% Membership Interest of BizAnalytica LLC. The purchase consideration includes an upfront payment of USD 16.72 million and an earn-out between USD 0 to USD 24.0 million subject to achieving financial targets.

Parallely, the Company will slump purchase the identified assets and liabilities including the business of BizAnalytica Solutions LLP, an Indian entity and India affiliate of BizAnalytica LLC USA.

BizAnalytica Solutions LLP is an offshore service provider and is mainly engaged in the data cloud and modernisation related support/manpower services. The slump purchase including all Identified Assets and Liabilities to be bought for a consideration of approximately Rs. 1,050 lakhs (equivalent to USD 1.28 million).

BizAnalytica in aggregate has a workforce of 79 employees which includes onshore employees and offshore employees of India affiliate (BizAnalytica Solutions LLP). For the Financial Year ended December 31, 2022, the turnover of the Company was USD 14.6 million and for the Financial Year ended December 31, 2021, the turnover of the Company was USD 8.9 million.

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.