LTTS bags US$ 40 million deal

L&T Technology Services Limited (LTTS) secured a deal worth US$ 40 million in Europe. LTTS will provide AI and Virtual Reality based Engineering Content Management (ECM) solutions, thereby catering to the industrial products segment of a major technology corporation.

The deal will allow LTTS to capitalize on centers in Europe, US and India, said the company in a filing to the bourses on Monday. LTTS will take complete ownership to manage content for existing as well as upcoming product suites for the customer, including technical design specifications, and diagnostic solutions for service engineers, as well as product training for customers and engineers. This will enable it to support the entire ECM cycle, right from product conceptualization to developing digital content platforms.

LTTS is a listed subsidiary of Larsen & Toubro Limited. Its primary area of expertise includes providing engineering and R&D services in the areas of Digital Engineering, Cloud, Analytics, Artificial Intelligence, Machine Learning, Automation, IoT, Augmented and Virtual Reality, and Cybersecurity. It offers these by way of consultancy, design, development and testing services throughout the process development life cycle and the product development value chain. It caters to 52 Fortune 500 companies and 51 of the world’s top ER&D companies.

On Monday, the shares of LTTS opened at Rs. 1,670.00 per share, and hit a low of Rs. 1,608.70 per share. At 10:46 hours, the stock was trading at Rs. 1,632.60 per share, down 1.94 per cent.