LTM secures $100 mn deal from European medtech firm for product support

LTM has won a $100 million, seven-year deal from a European medtech firm to support and develop its flagship products, strengthening its large-deal momentum amid a tough macro environment

Mid-tier information technology (IT) services company LTM on Monday said it has won a $100 million deal from a European medial technology (medtech) firm to deliver product development and support across its flagship products.

 

The deal, for seven years, will see LTM leverage iNXT, its cross-industry digital transformation and innovation platform designed to help enterprises manage the convergence of physical and digital worlds.

 

As part of this agreement, LTM will develop and support the European company’s hearing instrument brands and its private labels, which include wearable devices, the fitting application used by hearing-care professionals to configure hearing aids, and the mobile application for device control.

 

LTM, which recently rebranded itself from LTIMindtree, has been banking on large deals to drive top line in an uncertain macroeconomic environment. Those are primarily cost takeout and efficiency improvement ones as customers tighten their spends.

 

It has been winning such deals at an astonishing pace under its Chief Executive Officer (CEO) Venu Lambu. The company has signed two deals with the Indian government — one with Central Board of Direct Taxes (CBDT) and the other for upgrading the Permanent Account Number (PAN) network. Besides this, it signed a $100 million deal with a US chemicals company, a $450 million deal with an agribusiness firm, and a $580 million contract with a media and entertainment company in 2025-26 (FY26).

 

Lambu told Business Standard last month that he expects a robust deal pipeline spilling into FY27, which is a mix of renewals and pure-play artificial intelligence (AI) ones, providing the company with better growth visibility even as macroeconomic conditions remain unchanged after a turbulent year.

 

LTIMindtree reported a 10.5 per cent decline in net profit to ₹971 crore while revenue went up 11.6 per cent to ₹10,781 crore in the third quarter of FY26.