Larsen & Toubro Infotech (LTI), the IT services arm of engineering and construction conglomerate Larsen & Toubro (L&T) Ltd., on Thursday said it had signed a definitive agreement to acquire Germany-based IT consulting firm Nielsen+Partner for an undisclosed amount.
Aimed at enriching the company's offerings for its banking clients, this acquisition is in line with LTI's acquisition of Syncordis in 2017. Syncordis is a leading Temenos T24 Core Banking Platform specialist with widespread presence in Europe, whereas N+P has built expertise in the front office of Temenos WealthSuite.
Geneva, Switzerland-headquartered Temenos is a leading provider of banking software.
"The acquisition of N+P will help us further establish LTI as a formidable player in the fast-growing market for Temenos and help our clients navigate their digital transformation journey. I welcome the employees and clients of N+P to LTI family," Sanjay Jalona, Chief Executive Officer and Managing Director, LTI, said in a statement.
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