L&T Tech Services

LTTS said that it has agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for Rs 800 crore.

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The group will also be entering new-age businesses that it has incubated, such as L&T EduTech and L&T SuFin, a B2B e-commerce platform for industrial and construction products

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As Covid-19 hits the global economy hard, the company refrained from giving any growth guidance for the ongoing fiscal

L&T Technology Services (LTTS), the IT services arm of the engineering major L&T, said it has signed an agreement to acquire US-based design services provider Esencia Technologies Inc. The company will pay $27 million (nearly Rs 180 crore) to acquire the California-headquartered firm and $15 million ( Rs 100 crore) will be paid upfront. "The rest will be paid over a period of four years," said Keshab Panda, chief executive officer and managing director, LTTS.LTTS aims to strengthen its offerings in areas such as perceptual computing, internet of things, advanced silicon products and wireless networking technologies with fast, powerful and smart design tools and signal processing libraries. Esencia has a team of more than 100 engineers in Silicon Valley. "The proposed acquisition of Esencia will enhance our global offerings in the area of perceptual computing, advanced silicon and wireless networking technologies. Most important thing is we will be adding 100 people in ...