LTM announced a proposed acquisition of Randstad’s Technology and Consulting Services business across France, Germany, Belgium, Luxembourg, and Australia, in a deal representing more than $500 million (around €469 million) in annual revenue.
The proposed acquisition is aimed at expanding LTM’s presence in key sectors such as aerospace & defence, automotive, utilities, and banking, financial services and insurance (BFSI). The company said the transaction would also strengthen its capabilities in digital engineering, cybersecurity, and Internet of Things (IoT) services through delivery centres in Romania and Portugal.
According to LTM, the deal would help create a more diversified portfolio by increasing its scale in Europe and Australia while improving its position in regulated and high-growth sectors through established customer relationships.
The company added that the transaction would enhance its AI-centric offerings by combining global capabilities with local domain expertise and nearshore delivery models. The agreement is also part of a broader 360-degree partnership with Randstad, which includes a five-year IT services partnership for Randstad’s India Global Capability Center and a strategic talent management collaboration.
Venu Lambu, CEO and Managing Director of LTM, said the proposed agreement aligns with the company’s long-term strategy to build a diversified and resilient business portfolio while strengthening its ability to deliver compliant and domain-driven AI services in strategic markets.
The acquisition will be executed through LTIMindtree UK Limited, a wholly owned subsidiary of LTM, subject to regulatory approvals and customary closing conditions.
As per the company’s disclosure, the proposed transaction is expected to be completed by the third quarter of FY27. The deal involves a cash consideration with an enterprise valuation of up to €160 million on a cash-free, debt-free basis, subject to customary closing adjustments.
The target entities reported consolidated revenue of €609 million in CY2023, €541 million in CY2024, and €469 million in CY2025.