For cash consideration of Rs 93 crore
L&T Technology Services has signed a Share Purchase Agreement (SPA) to acquire Graphene Semiconductor Services. The acquisition will also include all its 3 overseas subsidiaries incorporate in namely Singapore, Malaysia and Taiwan. The cost of acquisition is cash consideration of Rs 93 crore payable in tranches - Rs 70 crore upfront payment and Rs 23 crore in form of earn outs and retention pay spread over 3 years.This acquisition will enable L&T Technology Services to strengthen its footprint in VLSI Chip Design and Embedded Software Services.
The transaction will likely be completed by October 2018.
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