IT giant Tech Mahindra has acquired 80% stake in Geomatic.AI, an artificial intelligence company based out of Australia, through its Singapore-based subsidiary for Rs 32 crore.
“As part of this deal, Tech Mahindra will have 80 per cent shareholding in Geomatic.AI for consideration of Australian dollar 6 million. Ausnet will have 20 per cent shareholding and transfer digital workforce, intellectual property, assets and client contracts to the newly formed entity,” the company said in a regulatory filing.
Tech Mahindra intends to create a next-generation artificial intelligence company.Geomatic.AI will continue its focus on digital platforms led non-linear growth, in partnership with AusNet Services, an Australian Energy & Utilities distributor. At the same time, the company will also build digital twins for linear assets leveraging Cloud, Drone and Mobility technologies in the Geospatial domain. Geomatic.AI was part of AusNet Services, an Australian Energy Company prior to getting acquired by Tech Mahindra.
The highly differentiated IP that Tech Mahindra gets as part of the acquisition will position it uniquely to deliver Drone Technologies, Digital Twins, Artificial Intelligence led services to linear asset-intensive industries viz. Energy & Utilities, Transportation, Oil & Gas and Public Sector. Tech Mahindra intends to further enrich this IP and take it to the American and European geographies.
Conference, Virtual Genpact Analytics Career Day 3rd Sep
Conference, in-person (Bangalore) Cypher 2022 21-23rd Sep
Conference, in-person (Bangalore) Machine Learning Developers Summit (MLDS) 2023 19-20th Jan, 2023
Conference, in-person (Bangalore) Data Engineering Summit (DES) 2023 21st Apr, 2023
Conference, in-person (Bangalore) MachineCon 2023 23rd Jun, 2023
Stay Connected with a larger ecosystem of data science and ML Professionals
Discover special offers, top stories, upcoming events, and more.
Experts say that if governments seek access, having so much information about people in the hands of a single firm risks becoming a single point of failure for democracy
Various big tech companies announced new innovations, software developments and hardwares along with conferences and workshops for AI and Metaverse.
“There are probably a bunch of people at the company who should not be working here,” says Meta chief Mark Zuckerberg.
The Metaverse without human-like representations or AI inside it will be a very dull and sad place
It will provide OpenAI API developers free access to GPT-based classifiers that can detect harmful content, OpenAI states in a blog post.
A whopping 348 apps are banned in India to uphold ‘the security of the state and public order’ but are still available as cracked versions on the web
Protein structures innately shift and transform, sometimes very drastically and sometimes in subtle ways when small-molecule ligands show up.
According to Sigmoid, a data engineering and AI solutions company, adoption of cloud data warehouses is growing at a CAGR of 15%.
The company has built a repository of more than two crore data points, including navigation systems, telematics, and 3D data visualisations
Stay up to date with our latest news, receive exclusive deals, and more.
© Analytics India Magazine Pvt Ltd 2022