L&T Technology Services to acquire Intelliswift and deepen software product development, platform engineering, and AI expertise.
Takeaway Points
- L&T Technology Services to acquire Intelliswift and deepen software product development, platform engineering & AI expertise.
- With this acquisition, LTTS will be able to address adjacent markets of retail and fintech, along with the private equity channel.
- On Oct 24, 2024, L&T Technology Services launched an AI experience zone powered by NVIDIA.
Why did LTTS want to acquire Intelliswift?
L&T Technology Services Limited, a global leader in engineering and technology services, said on Monday that it has signed a definitive agreement to acquire Silicon Valley-based Intelliswift to deepen its offerings across software product development, platform engineering, digital integration, data, and AI.
With this acquisition, LTTS said it will be able to address adjacent markets of Retail and Fintech, along with the Private Equity channel.
Amit Chadha, CEO and Managing Director, L&T Technology Services, commented, “Software and AI are becoming essential for our clients seeking to bring new products and differentiated solutions for the consumer. The acquisition of Intelliswift strengthens our digital and software product engineering capabilities, expands strategic client partnerships with major technology spenders, boosts our presence in Silicon Valley, and advances us towards our USD 2 Billion medium-term goal. We warmly welcome the Intelliswift team to our LTTS family, to join us in our journey of ‘Purposeful. Agile. Innovation’ with inclusive growth.”
Pat Patel, Founder and Executive Chairman, Intelliswift, said, “Joining forces with a prominent Engineering & R&D services leader like LTTS is a strategic step forward for Intelliswift. Together, we aim to become the leading technology partner for major hyperscalers and companies worldwide that depend on us for business critical products and platforms, significantly enhancing our digital offerings. Our customers will benefit from innovative advancements throughout the software and digital platform lifecycle.”
The benefit of the acquisition.
According to LTTS, the acquisition will improve its AI and software capabilities in the Digital Engineering suite for global clients through industry-leading software product development, data and platform engineering capabilities, Intelliswift’s AI-led automation framework, which provides end-to-end automation solutions across platforms and processes, and Digital Enterprise & Integration services through agile engineering and next-generation technologies.
L&T Technology Services Launches AI Experience Zone Powered by NVIDIA
On Oct 24, 2024, L&T Technology Services Limited announced the grand opening of its state-of-the-art LTTS Experience Zone at its design hub in Bengaluru, benefiting customers in segments like mobility and and tech. This AI-driven LTTS Experience Zone, leveraging the NVIDIA AI platform, is set to serve clients in the Mobility and Tech segments.
The LTTS Experience Zone offers an immersive environment where visitors can engage with live demonstrations, interactive displays, and expert consultations. It showcases the transformative power of NVIDIA AI, pushing the boundaries of AI-driven technologies to address complex challenges in critical sectors, the company said.
About L&T Technology Services Ltd.
L&T Technology Services (LTTS) is a global leader in engineering and technology services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and sustenance services across products and processes.
Purposeful. Agile. Innovation. is how we drive growth across the Mobility, Sustainability, and Tech segments. Our customer base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Headquartered in India, we have over 23,700 employees across 22 global design centers, 30 global sales offices, and 108 innovation labs, as of September 30, 2024.
