Larsen & Toubro Infotech Ltd. (LTI) has signed a definitive agreement to acquire Cuelogic Technologies, a Pune-based digital engineering and outsourced product development firm.
The value of the acquisition was not disclosed. Cuelogic’s revenue for FY21 stood at $5.50 million (unaudited), LTI said in a regulatory filing on Wednesday.
Cuelogic, which employs 300 people, works with enterprise clients on multiple facets of digitalisation such as UX consulting, DevOps, AI consulting, IoT, applications modernisation, cloud architecture and integration. The company helps global enterprises to turn modern digital businesses with the help of its over 100 products, LTI said in a statement.
Cuelogic would be integrated with the digital practice of LTI. This is the seventh acquisition of LTI in the last five years. Earlier acquisitions bolstered the company’s expertise around data and analytics, cloud consulting, intelligent automation, and industry-specific platforms, the company said.
Sanjay Jalona, CEO & MD, LTI, said: “We believe rapid productisation is an essential requirement for accelerated digitalisation across industries. Our clients are looking for agile solutions to compete effectively in a changing world.”
Crime Today News | Business