Mumbai based technology consulting major Larsen and Toubro Infotech on Wednesday said it has signed an agreement to acquire digital engineering and outsourced product development company Cuelogic Technologies.
Cuelogic, which will be integrated into the digital practice of LTI, marks the company’s seventh acquisition since its public outing in July 2016. LTI has utilized the inorganic route to expand offerings in data and analytics, cloud consulting, intelligent automation, and other industry-specific platforms. LTI, founded in 1997, is a wholly owned subsidiary of Larsen & Toubro Ltd (L&T).
The acquisition will see more than 300 employees being added to LTI teams and will bolster its skillsets in UX Consulting, DevOps, AI Consulting, IoT, applications modernization, cloud architecture and integration, among others.
“We believe rapid productization is an essential requirement for accelerated digitalization across industries. Our clients are looking for agile solutions to compete effectively in a changing world,” Sanjay Jalona, CEO and MD, LTI, said in a statement.
Pune based Cuelogic, founded in 2010 by Nikhil Ambekar and Vikrant Labde, provides capabilities in digital engineering, specifically in developing cloud native web and mobile applications. Cuelogic also runs Innovation labs as a service for its clients in USA and India, LTI said.
LTI’s last four acquisitions, all in 2019, were cloud native solutions provider Powerupcloud Technologies, decision sciences company Lymbyc, German IT services firm NIELSEN+PARTNER of Hamburg and another consulting company, Ruletronics.
Separately, LTI on Tuesday announced an expanded collaboration with Amazon Web Services (AWS).
As part of the partnership, LTI will build accelerators and create industry-focused cloud offerings for the banking and financial services, manufacturing, retail & CPG, media & entertainment, hi-tech, and insurance sectors, according to a statement.