Mindtree to acquire L&T’s digital biz for Rs 198 cr
Technology

Mindtree to acquire L&T’s digital biz for Rs 198 cr

Indian multinational IT company Mindtree has announced it will acquire NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore to seize opportunities in the IoT and Industry 4.0 segment.

It was mentioned in a regulatory filing that owning NxT Digital Business would help Mindtree in acquiring more opportunities in the IoT and Industry 4.0 sector due to its cross-sell capabilities, holistic solutions for new prospects and existing clients.

Inscribed in the filing was Mindtree's vision to sway the digital capabilities in this sector to become a 'Go-to business transformation partner' for clients.

The compensation for the contract accounts for Rs 198 crore together with earnouts, subject to adjustments as per the terms of the Business Transfer Agreement. The deal is expected to close by July 31.

L&T is the parent company of Mindtree Ltd with a 61.03% stake in the company.

In a separate filing to the Bombay Stock Exchange(BSE), L&T announced the transfer of its digital transformation business undertaking L&T-NxT (NxT Digital Business), to Mindtree, under the Business Transfer Agreement between L&T and Mindtree.

NxT Digital Business started its journey as a startup within L&T with numerous digital capabilities. The company had earnings of about Rs 37.59 crore in FY21.

Mindtree has a history of performing crucial roles in various applications of -- IoT technology, digitalisation of several operations of L&T where assets were connected and factories were digitised for improving decision making.

NxT Digital Business can boost the proficiency of Mindtree among their clients globally with its advanced technologies -- industrial IoT, artificial intelligence, machine learning, augmented and virtual reality, geospatial and cybersecurity applications.

Debashis Chatterjee, CEO and MD of Mindtree, stated that the acquisition will improve the client experience, placing Mindtree among leading partners of data and analytics to urge on insights and provide transformational services to clients.

Image Source


Also read: Leveraging technology for collaboration in road projects

Indian multinational IT company Mindtree has announced it will acquire NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore to seize opportunities in the IoT and Industry 4.0 segment. It was mentioned in a regulatory filing that owning NxT Digital Business would help Mindtree in acquiring more opportunities in the IoT and Industry 4.0 sector due to its cross-sell capabilities, holistic solutions for new prospects and existing clients. Inscribed in the filing was Mindtree's vision to sway the digital capabilities in this sector to become a 'Go-to business transformation partner' for clients. The compensation for the contract accounts for Rs 198 crore together with earnouts, subject to adjustments as per the terms of the Business Transfer Agreement. The deal is expected to close by July 31. L&T is the parent company of Mindtree Ltd with a 61.03% stake in the company. In a separate filing to the Bombay Stock Exchange(BSE), L&T announced the transfer of its digital transformation business undertaking L&T-NxT (NxT Digital Business), to Mindtree, under the Business Transfer Agreement between L&T and Mindtree. NxT Digital Business started its journey as a startup within L&T with numerous digital capabilities. The company had earnings of about Rs 37.59 crore in FY21. Mindtree has a history of performing crucial roles in various applications of -- IoT technology, digitalisation of several operations of L&T where assets were connected and factories were digitised for improving decision making. NxT Digital Business can boost the proficiency of Mindtree among their clients globally with its advanced technologies -- industrial IoT, artificial intelligence, machine learning, augmented and virtual reality, geospatial and cybersecurity applications. Debashis Chatterjee, CEO and MD of Mindtree, stated that the acquisition will improve the client experience, placing Mindtree among leading partners of data and analytics to urge on insights and provide transformational services to clients. Image Source Also read: Leveraging technology for collaboration in road projects

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement