Mindtree acquires Nxt Digital Business from L&T; stock trades flat

Mindtree, a leading digital transformation & technology services company today announced that it has signed an agreement to acquire NxT Digital Business of L&T Group.  

NxT Digital Business is a cloud-based IoT and AI platform for Industry 4.0 of L&T Group. It leverages the company’s deep industry domain expertise with emerging technologies like industrial IoT, artificial intelligence, machine learning and augmented & virtual reality, geospatial along with cybersecurity applications to deliver disruptive business outcomes for all its customers.   

Mindtree and NxT Digital Business' combined offerings will upscale the market agility to meet the growing end-to-end digital transformation demands of clients. It will leverage NxT Digital Business' capabilities across several industry segments in integrating sensors and telemetry data with its advanced data analytics & insights leadership to drive the growth of digitisation across the manufacturing and engineering value chain, thereby delivering tangible operational efficiencies as well as differentiated customer experience. The deal concluded for a total consideration of Rs 198 crore.  

At 10.36 am on Friday, the share price of Mindtree Ltd was trading flat at Rs 2,096.85, up by 0.13 per cent. 

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