Acquisition of Intelliswift by LTTS to bolster software and artificial intelligence capabilities
L&T Technology Services (LTTS) has announced the acquisition of Silicon Valley-based Intelliswift, a move that strengthens its digital and software product engineering capabilities and propels the company towards its medium-term goal of reaching USD 2 Billion.
Intelliswift, a leading provider of digital enterprise and integration services, caters to over 25 Fortune 500 companies and serves 5 of the top 10 ER&D spenders in software and technology. The acquisition will provide LTTS with software product development capabilities and enhance its AI capabilities in the Digital Engineering suite for global clients.
The founder and executive chairman of Intelliswift, Rakesh Velauthapillai, considers the acquisition as a strategic step forward for the company. Pat Patel, the founder and executive chairman at Intelliswift, shares this sentiment, stating that the acquisition will enable Intelliswift to significantly enhance its digital offerings.
Intelliswift's AI-led automation framework provides end-to-end automation solutions, and the company offers its services to 4 of the Top 5 hyperscalers. This acquisition will also provide LTTS with data and platform engineering capabilities, enabling it to address adjacent markets of retail and fintech, along with the private equity channel.
LTTS' customers will benefit from innovative advancements throughout the software and digital platform lifecycle, and the acquisition will boost the company's presence in Silicon Valley. Amit Chadha, the CEO and managing director at L&T Technology Services, has welcomed the Intelliswift team to the company and expressed his excitement about the opportunities this acquisition presents.
With this acquisition, LTTS has expanded its strategic client partnerships with major technology spenders and aims to become the leading technology partner for major hyperscalers and companies worldwide. The acquisition will not result in any advertisements for IoT Now or a visit to the IoT Now homepage.
In conclusion, the acquisition of Intelliswift is a significant step for L&T Technology Services, providing the company with valuable capabilities and opportunities for growth in the digital and software product engineering space. The acquisition is expected to have a positive impact on both LTTS and its customers.
