L&T Technology Services Acquires Intelliswift to Strengthen AI, Software Product Development, and Platform Engineering Expertise

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leader in engineering and technology services, announced a definitive agreement to acquire Silicon Valley-based Intelliswift to expand its capabilities across software product development, platform engineering, digital integration, data, and AI.

Intelliswift currently serves four of the top five hyperscalers and partners with over 25 Fortune 500 companies, including five of the top 10 ER&D spenders in software and technology. With this acquisition, LTTS also aims to explore adjacent sectors such as retail and fintech, alongside opportunities within the private equity channel.

The acquisition enhances LTTS’s AI and software capabilities in digital engineering for global clients through:

• Industry-leading software product development, data, and platform engineering capabilities

• Intelliswift’s AI-led automation framework providing end-to-end automation solutions across platforms and processes

• Digital enterprise and integration services powered by agile engineering and next-generation technologies

“Software and AI are becoming essential for our clients seeking to bring new products and differentiated solutions for the consumer. The acquisition of Intelliswift strengthens our digital and software product engineering capabilities, expands strategic client partnerships with major technology spenders, boosts our presence in Silicon Valley, and advances us towards our USD 2 Billion medium-term goal. We warmly welcome the Intelliswift team to our LTTS family, to join us in our journey of ‘Purposeful. Agile. Innovation’ with inclusive growth,” said Amit Chadha, CEO and Managing Director, L&T Technology Services.

Pat Patel, Founder and Executive Chairman, Intelliswift, said, “Joining forces with a prominent Engineering & R&D services leader like LTTS is a strategic step forward for Intelliswift. Together, we aim to become the leading technology partner for major hyperscalers and companies worldwide that depend on us for business-critical products and platforms, significantly enhancing our digital offerings. Our customers will benefit from innovative advancements throughout the software and digital platform lifecycle.”

About L&T Technology Services Ltd

L&T Technology Services (LTTS) is a global leader in engineering and technology services. As a listed subsidiary of Larsen & Toubro (L&T), LTTS provides design, development, testing, and sustenance services for products and processes.

Guided by the ethos of Purposeful. Agile. Innovation., LTTS drives growth across the mobility, sustainability, and technology sectors. Its client base includes 69 Fortune 500 companies and 57 top ER&D companies from sectors such as industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Based in India, LTTS employs over 23,700 people across 22 global design centers, 30 global sales offices, and 108 innovation labs as of September 30, 2024.

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