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Tech Mahindra to acquire 75% stake in analytics company Fix Stream for $10 million

fixstreamTech Mahindra Ltd has informed BSE that it has entered into an agreement to acquire 75% stake in big data analytics company Fix Stream Networks Inc (FSNI), for $10 million.

The company also disclosed that FSNI is working on a technology that will benefit Tech Mahindra’s customer base. Founded in May 2013, FSNI 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. FSNI has offices in Bangalore and California and these tools could be used to improve the up time of servers in datacenters.

Earlier this year, Tech Mahindra had partnered the semiconductor design & manufacturing company 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. It is not clear if this acquisition is related. It had also announced the launch of a Global Center of Excellence (CoE) with Hewlett Packard (HP) in Bangalore, which brings automation and unification of key services in infrastructure performance management solutions.

Tech Mahindra had reported revenues of Rs 4,899 crore; up 33.5% YoY and 2.7% QoQ at the end of Q3-FY14.

Other Investments in big data & social media analytics sector

Mumbai-based big data analytics firm Germin8 had raised $3 million in Series A funding from Kalaari Capital.

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Big data company Indix had raised $8.5 million from Avalon Ventures and Nexus Venture Partners. Earlier this year, MasterCard Advisors, a division of MasterCard had also acquired an undisclosed stake in Mu Sigma, an analytics and decision sciences firm.

Social media analytics startup Parakweet had also raised $2 million investment from a series of angel investors in June 2013 while data analytics and personalization services based startup iKen Solutions had raised an undisclosed amount of funding from India Innovation Fund in August 2012.

Inventus Capital Partners & Nexus Venture Partners backed Salorix also offered social media marketing and analytics solutions, however the company reportedly shut shop in May 2013.

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