L&T Tech Services

L&T Technology Services on Monday announced a five-year contract with Nokia to support engineering and research and development activities in India. The contract brings together LTTS' engineering capabilities with Nokia's telecommunications technology work, according to a release. The release did not divulge the size or financial details of the contract. Under the agreement, LTTS will support Nokia R&D programs across areas, including product engineering, software development, system integration, and product support. LTTS will establish a dedicated Offshore Development Center (ODC) in India to support Nokia's engineering and R&D initiatives. The ODC brings data-center-grade compute and AI-infrastructure engineering to next-generation telecom solutions. LTTS will also create a dedicated engineering team in India to support Nokia's technology center globally, with work spanning areas such as 5G networks, intelligent automation, AI-driven operations and AI ...

L&T Technology Services said that the new labour codes have resulted in a material increase in provision for employee benefits on account of recognition of past service costs

L&T Technology Services will set up offshore development centre for NYSE-listed company

The uptick in the L&T Tech share price came after the company announced that it has been awarded a multi-year $80 million deal with a US-based manufacturer of industrial products and solutions

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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 ...