Shares of Mphasis gained 3.8 percent intraday on November 20 following the acquisition of US-based data operations specialist Datalytyx.

                                

Headquartered in London, United Kingdom, Datalytyx provides next-gen data engineering, data operations, and master data management solutions on Snowflake and Talend environments to clients globally.

The information technology solutions provider announced its acquisition of Datalytyx, a leading next-gen data engineering and consultancy company, on November 19.

Since its inception, Datalytyx has been supporting modern data projects by providing a managed data platform for analytics and machine learning, using best-in-class data tools.

"Every enterprise needs the ability to turn raw data into actionable information at scale, the recent worldwide crisis has only accelerated this need. Data and analytics combined with artificial intelligence, will continue to play a dominant role to predict, prepare and respond to changing needs of the business," said Nitin Rakesh, CEO and Executive Director, Mphasis.

"This acquisition will not only strengthen our next-gen data strategy but will also be a significant milestone in our journey to build capabilities relevant to the digital priorities of our clients," he added.

The stock was trading at Rs 1,323.20, up 1.75 percent on the BSE, at 10:40 hours IST.

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