L&T Infotech and IBM expand alliance; LTI gains 1.46%
Larsen & Toubro Infotech (LTI) said on Tuesday, it is expanding its multi-year, global alliance with IBM to help businesses transform operations through hybrid cloud adoption. LTI rose 1.46% to Rs 4,305.90 after the announcement. It will help clients migrate and modernize core business applications leveraging IBM Cloud offerings.
Under this agreement, LTI and IBM plan to establish an innovation centre in Bengaluru in 2021 offering a comprehensive suite of IBM’s cloud, automation, integration, data & artificial intelligence solutions to foster innovation. IBM will provide training to LTI employees to facilitate co-creation workshops and solution development for its clients.
Commenting on the alliance, Sudhir Chaturvedi, president-sales and executive board member, L&T Infotech said, “World’s leading organizations trust L&T Infotech as the partner of choice in enabling digital transformation journeys and modernizing their existing technology landscape. We are expanding our resolute relationship with IBM to allow customers to seamlessly embark on hybrid cloud environment with best-in-class automation and Integration.”
LTI is a global technology consulting and digital solutions company. It reported a 9.70% gain in consolidated net profit to Rs 456.80 crore on a 1.7% rise in revenues to Rs 2,998.40 crore in Q2 September 2020 over Q1 June 2020.