L&T Infotech to amass digital engineering agency Cuelogic for $8.4 million

In its submitting on the NSE, LTI has mentioned the transaction might be accomplished in two-fourweeks.

Mumbai-based L&T Infotech (LTI) has signed an settlement to amass a 100% stake in Pune-based Cuelogic Applied sciences for $8.4 million in a full-cash transaction.

In its submitting on the NSE, LTI has mentioned the transaction might be accomplished in two-fourweeks.

Cuelogic operates within the digital product engineering house to construct digital merchandise, modernise legacy software program with trendy applied sciences leveraging cloud, AI, mobility and gives Innovation Lab as a service to fast-track experimentation and seize untapped worth from digital for its purchasers within the US and India. Based in 2010, Cuelogic has a 100% subsidiary within the US and has an worker depend of over 300 and a portfolio of over 100 merchandise.

Speaking concerning the acquisition, Sanjay Jalona, CEO and MD, LTI, mentioned, “We consider fast productisation is a vital requirement for accelerated digitalisation throughout industries. Our purchasers are searching for agile options to compete successfully in a altering world. Digital engineering capabilities of Cuelogic Applied sciences Personal mixed with their instruments and methodologies will assist our purchasers innovate, launch merchandise, speed up time-to-market, and preserve merchandise optimally.”

Nikhil Ambekar, CEO, Cuelogic Applied sciences, mentioned, “Our digital experience and distinctive tradition have helped us construct a stable basis. LTI is the expansion chief within the {industry}, and we’re excited to additional add energy to its formidable digital capabilities.”

Cuelogic might be built-in with the digital apply of LTI.

That is the seventh acquisition by LTI because the firm obtained listed in 2016. Earlier acquisitions had been geared toward bolstering the corporate’s experience round information & analytics, cloud consulting, clever automation and industry-specific platforms.

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