M&A
L&T Technology Services acquires US-based Intelliswift for $110-M
Engineering and technology services firm L&T Technology Services (LTTS) is to acquire Silicon Valley-based software services and solutions provider Intelliswift , to deepen its offerings across software product development, platform engineering, digital integration, data and AI. The aggregate consideration (including both upfront and deferred consideration, retention bonus) for the acquisition is USD 110 million.Intelliswift claims to cater to over 25 Fortune 500 companies including 5 of the top 10 Engineering Research and Development (ER&D) spenders in software and technology. The consolidated turnover of the group was about USD 96 million for the calendar year ended 31 December 2023.
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