L&T Technology Services acquires US-based Intelliswift for $110 mn

15 Nov 2024 CW Team

L&T Technology Services (LTTS) has announced the acquisition of Silicon Valley-based Intelliswift for $110 million. The move aims to strengthen LTTS’ offerings in software product development, platform engineering, and digital integration, particularly in data and artificial intelligence (AI). Intelliswift serves high-profile clients across sectors like retail, fintech, and technology, including four of the top five hyperscalers and more than 25 Fortune 500 companies.

With this acquisition, LTTS expands its client base and enhances its expertise in the fast-growing digital services market. Intelliswift’s $96 million revenue and its deep ties with major technology spenders are expected to provide significant synergies for LTTS, helping it to tap into new markets and cross-sell its services.

The acquisition also strengthens LTTS’ position in the global engineering research and development (ER&D) outsourcing services market, which is valued at $78 billion. The deal is expected to help LTTS achieve its $2 billion revenue target in the medium term.

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