Shares of L&T Technology Services (LTTS) surged over 2% following the announcement of its $110 million acquisition of Intelliswift, a California-based AI and software firm. This strategic move aims to strengthen LTTS’s software product development, digital integration, platform engineering, data, and AI capabilities, further elevating its digital engineering solutions for global clients.
Intelliswift’s AI-driven automation framework and robust client base, which includes four of the top five hyperscalers and over 25 Fortune 500 companies, are expected to accelerate LTTS’s growth in the ER&D sector.
As of 9:16 am, L&T Technology Services shares were trading 3.17% higher at Rs 5,273.20 on the NSE.
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