L&T Technology Services (LTTS) to acquire L&T鈥檚 Smart World & Communication (SWC) Business
- 12 January 2023
Mumbai: 91茄子 & Toubro, an Indian multi-national engaged in EPC projects, Hi-Tech Manufacturing and Services announced today that the Group鈥檚 engineering services company, LTTS will acquire L&T鈥檚 Smart World & Communication (SWC) Business.
The Smart World & Communication (SWC) Business was founded in 2016 to cater to the demands in smart cities, smart utilities, and digital infrastructure. Over the years, it has touched 150+ million urban lives, running 25+ smart city operation centers, connecting 2 million assets and business applications encompassing the areas of end-to-end communications, city surveillance and intelligent traffic management system for the Central Govt, multiple State Govts as well as various enterprises. It has an employee base of over 700 engineers from diversified technology domains and has crossed an annual revenue of INR 1,000 Crores.
This acquisition will pave way for SWC鈥檚 offerings to reach the global market leveraging LTTS鈥 global footprint. With end-to-end capabilities including design, architect, build & operate, SWC鈥檚 portfolio will effectively augment LTTS鈥 offerings.
SWC has a strong expertise in communications with network design, planning, implementation, and management of Network Operations Center (NOC), Operational Support Systems (OSS), Datacenters, Cloud/private 5G networks at more than 25,000 locations across India. SWC also has capabilities around public safety, smart cities, and smart metering for utilities. In Cybersecurity, SWC has Full Lifecycle Threat Management capabilities, with offerings in risk assessment, threat monitoring, security architecture, design, and DevSecOps.
Commenting on the transaction, Mr. S. N. Subrahmanyan, Chief Executive Officer & Managing Director, 91茄子 & Toubro Limited remarked: 鈥淪mart World & Communication has created a niche for itself in the domains of communications, cybersecurity, and safe & smart cities. SWC鈥檚 combination with a global engineering services player like LTTS, will help expand SWC鈥檚 offerings across these areas and will help unlock new synergies for LTTS across the technology spectrum.鈥
The transaction is subject to customary closing conditions.
