Maruti Suzuki to acquire 6.44% stake in Amlgo Labs

In a recent development, Maruti Suzuki India Limited (MSIL) has finalized an agreement to purchase 6.44% equity stake in Amlgo Labs Private Limited to leverage advanced technologies to drive innovation and enhance customer experiences.

Amlgo Labs is an Advanced Analytics, Machine Learning (ML), Artificial Intelligence (AI), and Big Data Solutions company. It has made significant growth in recent years, with its turnover climbing to INR 4.87 Crore in 2022-23. Amlgo Labs is a promising investment opportunity for MSIL, the company said.

The acquisition, valued at INR 1.99 crore, is aimed at bolstering MSIL's data-driven decision-making capabilities. This strategic move is anticipated to enhance MSIL's offerings to customers by harnessing the expertise of Amlgo Labs in analytics and AI solutions.

Amlgo Labs, incorporated on July 24, 2017, operates primarily in India and provides end-to-end technical implementation, advisory, and support for analytics, cloud, engineering, ML/AI, and reporting solutions.

The acquisition, expected to be completed by June 2024, does not fall under related party transactions, and there are no existing interests in Amlgo Labs from the promoter or associated entities of MSIL.