Mastek Acquires US-Based BizAnalytica For Global Footprint In Gen AI, Cloud

Mastek Ltd. has made an acquisition at more than twice its income in the first quarter.

Mastek will make an upfront payment of $16.72 billion to acquire BizAnalytica. An earn-out payment—additional compensation to the business owner after a sale—of $0-24 million will be made, contingent on meeting specific targets.

BizAnalytica offers end-to-end data, cloud and modernisation solutions to help clients make data-driven decisions. Its clientele includes Snowflake, Databricks and Amazon.com Inc.’s cloud business Amazon Web Services. 

That’s expected to enable Mastek to capitalise on the growing market potential of Generative AI, cloud services and data analytics.

“This acquisition marks a pivotal milestone in accelerating our presence in data engineering, cloud services and the rapidly evolving Gen AI domain,” Mastek CEO Hiral Chandrana said in a statement. “[It] will enable us to decomplex the cloud transformation journey for our clients…”

On Wednesday, shares of Mastek Ltd. rose 0.84% to Rs 2,170.90 apiece on the BSE even as the benchmark Sensex ended the day 0.45% higher at 67,097.44 points.