Goldman Sachs has invested in Singapore Big Data firm Antuit Holdings.
The investment of $56 million signals Goldman Sachs intention to grow in the Asian data analytics market. The funding will help support the acquisition of smaller rivals and further global expansion.
Antuit CEO, Arijit Sengupta said:"The rapidly growing $10 billion plus big data services market is ripe to be organised and consolidated under a market leader."
"Goldman Sachs, an experienced investor in technology and services, brings us not only capital, but also deep expertise around how to grow into such a company and a global network of corporate relationships which will be instrumental to Antuit’s success," he added.
As part of the deal, Goldman’s Asia co-head of private equity, Ankur Sahu, will join Antuit’s board of directors.
Antuit Holdings provide data engineering and analytical support services as well as consumer and market insights, marketing spends optimisation. The company serves customers in retail, transportation and logistics, and digital business markets in addition to financial services and insurance.
