Mindtree, a digital transformation and technology services company, has announced that it has signed an agreement to acquire the NxT Digital Business, the cloud based IoT and AI platform for Industry 4.0 of L&T Group.
The NxT Digital Business, was founded as a startup with digital capabilities within L&T. NxT Digital Business leverages the Group’s industry domain expertise with emerging technologies like industrial IoT, artificial intelligence, machine learning and augmented and virtual reality, geospatial and cybersecurity applications to deliver business outcomes for its global customers.
“There is a huge opportunity ahead as global manufacturers and industrial companies are increasingly adopting Industry 4.0 focused smart solutions, systems, and processes, but are struggling to leverage data and analytics to drive efficiency and competitive advantage,” said Mr. S. N. Subrahmanyan, Chief Executive Officer & Managing Director, Larsen & Toubro Limited. “NxT Digital Business experience, talent, expertise and credentials, coupled with Mindtree’s global scale, technology leadership, and deep understanding of domain and delivery, are a powerful combination of focus and capabilities to meet clients’ requirements.”
“Industrial and manufacturing companies are starting to adopt digital technologies across the value chain, but need a partner with expertise to strategically connect the dots and generate business value from their data,” said Mr. Debashis Chatterjee, Chief Executive Officer & Managing Director, Mindtree Limited. “The acquisition will complement our significant strengths in reimagining consumer experience, positioning us as one of the leading partners for leveraging data and analytics to drive insights and deliver transformational services to our clients.”
The acquisition is subject to customary closing conditions.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.