L&T unit, United Technologies to provide tech solutions for aerospace, defence biz
L&T Technology Services (LTTS), a subsidiary of engineering conglomerate Larsen & Toubro (L&T), will partner the US-based United Technologies Corporation (UTC) for Collins Aerospace to provide aerospace-based intelligent solutions.
UTC for Aerospace Collins, a subsidiary of UTC, includes UTC Aerospace Systems, Rockwell Collins and BE Aerospace, and is one of the leading providers of intelligent solutions for the global aerospace and defence industries.
“At LTTS, our constant endeavour is to be our customer’s most reliable engineering and digital services partner,” Alind Saxena, chief business officer, LTTS, said. “We look forward to playing a more significant role in Collins Aerospace’s engineering road map.”
Saxena added that the company was working with UTC from 2015.
In May, the company had reported an increase of 20.93% in net profit for the fourth quarter. The company reported a profit of Rs 19.24 crore for the quarter ended March 2019 compared with Rs 15.91 crore for the corresponding period in the previous year.
In the same month, the company had signed a partnership with Swedish digital security services firm Kudelski Group to offer secure solutions for the internet of things (IoT) systems like connected cars and industrial internet of things (IIoT).
L&T also has another technology services business, L&T Infotech (LTI), that it is looking to acquire Bengaluru-based artificial intelligence & machine learning (AI&ML) firm Lymbyc Solutions Pvt Ltd for Rs 38 crore. The transaction is expected to close within six weeks.
L&T recently completed acquiring a controlling stake in mid-tier IT services firm Mindtree Technologies Ltd in what is being seen as a hostile takeover.