L&T Technology Services Limited (LTTS), a leading global engineering and technology services provider, has announced the acquisition of Intelliswift, a Silicon Valley-based software product development and platform engineering company, for $110 million. This strategic acquisition is aimed at strengthening LTTS’s AI and software capabilities, expanding its reach in digital integration and data-driven solutions, and deepening its relationships with major hyperscalers.
With a client base that includes 4 of the top 5 hyperscalers and over 25 Fortune 500 companies, Intelliswift brings a wealth of experience in software and technology services. The acquisition will enable LTTS to enhance its digital engineering offerings for global clients, particularly in high-growth sectors like retail, fintech, and hi-tech. Additionally, LTTS will be able to address the needs of the private equity market, further diversifying its service portfolio.
Key benefits of the acquisition include:
- Enhanced Software Product Development: Intelliswift’s strong capabilities in software product development, data engineering, and platform engineering will enrich LTTS’s digital engineering suite.
- AI-Led Automation Framework: Intelliswift’s AI-driven automation solutions provide end-to-end automation across platforms and processes, aligning well with LTTS’s focus on innovative digital solutions.
- Digital Integration Services: Intelliswift’s expertise in digital enterprise and integration services through agile engineering will bolster LTTS’s capacity to deliver next-generation technologies.
Amit Chadha, CEO and Managing Director of LTTS, commented, “The acquisition of Intelliswift strengthens our digital and software product engineering capabilities, expands strategic client partnerships with major technology spenders, and enhances our presence in Silicon Valley. This aligns with our goal of achieving a USD 2 billion revenue target in the medium term.”
Pat Patel, Founder and Executive Chairman of Intelliswift, shared his excitement about the partnership, stating, “Joining forces with LTTS enables us to become a leading technology partner for hyperscalers and other global clients, enhancing our digital offerings and bringing innovative advancements to the software and digital platform lifecycle.”
The acquisition is expected to be completed by the start of Q4 FY25, marking a significant step for LTTS in advancing its presence in the software and digital engineering domains. This deal reflects LTTS’s strategic commitment to expanding its market share in digital engineering and achieving inclusive growth.
