L&T Technology Services Limited (LTTS), a prominent global pure-play engineering services enterprise, has completed its acquisition of the Smart World & Communication (SWC) Business of L&T. Effective the 1st of April 2023, SWC has been integrated into LTTS and the two organizations will function as a single entity.
This strategic move is poised to strengthen LTTS' position in the market and provide the company with an opportunity to combine synergies and take offerings in Next-Gen Communications, Sustainable Spaces, and Cybersecurity to the global market.
SWC, founded in 2016 to cater to the emerging smart cities' demands, provides innovative solutions in end-to-end communications, city surveillance, and intelligent traffic management systems for the Government and enterprises. By joining hands with SWC, LTTS aims to create a comprehensive digital offerings suite that includes design, architect, build & operate and cater to portfolios that encompass Next-Gen Communications, Sustainable Smart World, and Cybersecure.
Amit Chadha, CEO and Managing Director of LTTS, said that the combined synergies will also help to take SWC’s capabilities to the global market especially in new age domains such as 5G, Cyber Security, Data Center & Cloud, Analytics and IoT, leveraging LTTS’ global presence. The offerings of SWC are aligned with 3 out of the 6 stated ‘Big Bets’ of LTTS in strategic areas of technology, viz. 5G, Sustainability and Digital Products and AI.
Being an early mover in the global communications domain, LTTS identified 5G as a Big Bet in 2020, and the company's 5G offerings and services have resulted in it taking complete ownership of 10+ Labs-as-a-Service for customers, 5G network assurance with over 100 use cases for clients, and over 100 product families developed for OEMs globally. With the acquisition of SWC, LTTS is confident that together, they will be better placed to continue winning and executing large-scale transformational programs in India and globally in this segment.
In the Sustainable Smart World segment, SWC brings capabilities such as public safety, smart cities, critical infrastructure, and smart metering, along with L&T Fusion Platform and Integrated Command and Control Center (IC3). On the other hand, LTTS brings smart building and experience management capabilities through its i-BEMS platform, which has been deployed in the 'world's smartest office campus' in Israel, featuring over 14,000 sensors. Together, LTTS and SWC will cater to a larger market of $390 billion globally for sustainable spaces.
In Cybersecurity, SWC brings Full Lifecycle Threat Management capabilities with offerings in risk assessment, threat monitoring, security architecture, design, and DevSecOps. In contrast, LTTS has been offering Cybersecurity services to its OT and product customers worldwide. The joint team of LTTS and SWC will provide Security Operating Centers (SOC), full lifecycle threat management, OT cybersecurity, and product security credentials to address the demands of the projected $376 billion cybersecurity market.
“The coming together of LTTS and SWC will prove to be a game-changer for the industry. The combined forces will leverage each other's strengths and provide comprehensive solutions to their clients. With this acquisition, LTTS has positioned itself well to expand its offerings and capture a larger market share, making it a company to watch out for in the future,” CEO Amit Chadha told CNBCTV18.
Moneycontrol journalists were not involved in the creation of the article.
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