L & T Technology to acquire Dell engineering services

Larsen and Toubro Limited is an Indian Multinational Conglomerate headquartered in Mumbai, Maharashtra. The company has business interest in engineering, construction, manufacturing goods, information technology, and financial services. It was recognized as the company of the year in Economic Times 2010 Awards.

Dell is an American privately owned Multinational computer technology based in Texas, United States. It sells personal computers, servers, data storage devices, network switches, software, computer peripherals, cameras, printers, and electronics built by other manufacturers. Company is well known for its innovation in Supply chain Management and E-commerce business.

L & T Technology services is going to buy Engineering services division of US based Dell Inc. The deal has got the nod of Competition Commission of India (CCI) and is waiting for approvals from US regulatory. This acquisition will help L & T establish itself as a premier engineering services provider by adding local delivery centres in North America. This strategic acquisition will strengthen L & T technology services global position in the $4 Billion transportation engineering research & development market.

Dell engineering services has delivery centres in Hyderabad and Bangalore, India. According to a comment mentioned by L & T chief executive Keshab Panda has said that the company will not spend more than $50 Million on any acquisition. In June this year, L & T Technology services acquired 74 percent stake in Thales Software India Pvt. Ltd. to grow its avionics Business. Recently, L & T said that it is planning to start its IPO process for both its technology subsidiaries i.e. L&T InfoTech and L&T Technology services by 2016.

This is the first acquisition this year in technical industry by an Indian company acquiring US Company. Other than this, Indian Internet firms are expanding their business internationally and one of them is Zomato. Jabong has already entered into UK market with a small office in London. Rocket Internet Printvenue is also entering into Australian and Singapore market.