Mu Sigma CEO Ambiga Subramanian plans own venture

Ambiga Subramanian, chief executive of data analytics firm Mu Sigma, is reportedly planning to launch her own venture.

Subramanian also plans to take some key executives from the firm founded by her former husband, Dhiraj Rajaram, according to a report by The Economic Times on Friday, citing anonymous sources. She is still in negotiations to sell her stake in Mu Sigma.

The couple announced their divorce in May. Rajaram said at the time that Subramanian would not remain CEO in the long term. She was appointed CEO in February 2016. Rajaram and Subramanian hold a total 48% stake in Mu Sigma. The remaining is owned by investors such as Sequoia Capital, MasterCard, Fidelity and General Atlantic, among others.

Subramanian and General Atlantic have been looking to sell their combined stake of 48% in the company.

In March, one its earliest investors Patrick Ryan, founder and former chairman of professional services major AON Corp, had filed a petition against Mu Sigma in a Chicago state court for misleading his investment firm Walworth Investments LLC about the prospects of the data analytics firm when it was doing well.

Mu Sigma was founded in 2004 by Rajaram and provides companies analytics and decision-making support services. It has raised $160 million from investors and is valued around $1.5 billion.

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