JBS Multi Million Rupees Investment To Set Up Data Lab In Pakistan
Lahore, April 06, 2017: To help companies address large amounts of data, JBS, an IT solution provider, has acquired Blutech Consulting.Use of data is increasing at an exponential rate. According to Google CEO Eric Schmidt, every 2 days, as much information is created as was created from the dawn of civilization up to 2003. This means 2.5 quintillion bytes of data are created every day, which is equivalent to 57.5 billion 32 GB iPads. This influx of data has caused a disruption and is shaking industries, societies and even day to day life. Hiding within those mounds of data is knowledge that could change a life, or change the world.
However, the goal is to turn the data into information and information into insights.Mr. Veqar Islam, CEO of JBS, said about the acquisition: “In a few years JBS intends to acquire more promising, futuristic and innovative startups that have the potential to solve business/social problems. We believe our model of acquisition provides the right blend of investment and structure which in turn would not just increase the chances of success for startups like Blutech, but also enable them to scale operations in Pakistan and outside.Kashif Jadoon, Chief Executive, Blutech Consulting, said: “I am very delighted today to become part of such a large group that has the credibility of decades in this industry. We have very strong ideas and a committed team and now with this acquisition, we have the strength and experience of JBS which we can leverage to become a powerhouse of Big Data/Analytics locally and internationally.”The multi-million rupees investment being made by JBS, besides helping Blutech in developing a strong knowledge base in the country, would also be used for setting up a data lab. This would enable JBS to develop strong products that bring further value to organizations looking to unlock the potential of Data.Blutech, offers strong technical capabilities around business intelligence and data analytics. Now the IT market in Pakistan will be able to benefit from decades of JBS experience and expertise along with Blutech’s knowledge of Analytics, IT and Data business to provide strong value to customers.