LTI plans to acquire German firm N+P

German-based subsidiary of Larsen & Toubro Infotech (LTI) has entered an agreement to acquire Nielsen+Partner (N+P) Unternehmensberater Gmbh to further strengthen its digital banking offerings in EMEA and APAC regions.

Through its wholly-owned subsidiary, Larsen & Toubro lnfotech Gmbh, LTI will acquire N+P's subsidiaries in Switzerland, Luxembourg, Thailand, Singapore and Australia. Headquartered in Hamburg, Germany, N+P is an implementation specialist for the Temenos WealthSuite. The company provides IT consulting, digital and software engineering services to major global enterprises.

The N+P acquisition will strengthen the Temenos offerings of Syncordis, a company that LTI acquire in 2017. It will help LTI expand its services in Europe by providing complete and innovative services to Temenos clients in the banking and wealth management business segment. N+P is leading Temenos partner company in Europe, the Middle East and Africa (EMEA) and Asia-Pacific region (APAC) regions.

On Thursday, at 11:37 hours, the stock of Larsen & Toubro Infotech was trading at Rs. 1,772.10, down by 0.61 per cent. The stock opened at Rs. 1,782.10 per share, the stock's intraday high was at Rs. 1,785.45 and low was at Rs. 1,763.05 per share on BSE.