M&A

M&A

LTM to acquire Randstad tech & consulting biz units in Europe and Australia for $186-M

Press Release   Mint  

Mumbai-based, publicly listed LTM Limited (Formerly LTIMindtree Limited) ) is to acquire Randstad’s Technology and Consulting business units in France, Germany, Belgium, Luxembourg, and Australia for USD 186 million.The acquired assets currently represent approximately USD 500 million in annual revenue. The acquisition would expand LTM’s presence in Aerospace & Defence, Automotive, Utilities and BFS. It would enable local domain expertise and complementary regional capabilities in domain-driven digital engineering, cybersecurity and IoT, supported by onshore and nearshore delivery through centers in Romania and Portugal.As part of the deal, LTM will manage the acquired global capability centre operations for five years. Furthermore, a portion of the staff from the acquired units is expected to transition to LTM as part of the integration process.