M&A

M&A

L&T Tech Services to divest SWC biz to AMI Paradigm Solutions for Rs.452-Cr

BSE Announcement   BSE Announcement   Business Standard  

Vadodara-based L&T Technology Services (LTTS) is to divest its Smart World and Communication (SWC) business to AMI Paradigm Solutions on a slump sale basis for INR 452 crore. AMI Paradigm is a special purpose entity formed by ParadigmIT Technology Services and AM Intelligence Labs, promoted by the founders of the Greenko Group.The SWC unit comprises the smart & safe segment and communications segment, including associated contracts and relevant intellectual property, besides employees. For FY 2024-25, this unit generated INR 1,027.95 crore in revenue, constituting 9.63% of LTTS's consolidated revenue. This divestment will enable LTTS to reallocate capital towards Engineering Intelligence (EI).AMI Paradigm Solutions aims to build an AI-led platform focused on domain-specific models, sovereign AI architectures, and outcome-driven systems for governments and enterprises.LTTS provides digital engineering, product development, and smart manufacturing solutions. It focuses on technology areas like AI, IoT, and 5G, serving industries including mobility, sustainability, and hi-tech.