L&T Technology Services (LTTS) is an Indian multinational technology company that provides engineering research and development (ER&D) services, headquartered in Vadodara. The company's business interests include automotive engineering, embedded system and semiconductor engineering, industrial internet of things, manufacturing plant engineering, and medical engineering.[1]
LTTS is a subsidiary of the conglomerate Larsen & Toubro (L&T), and listed on both NSE and BSE.[2][3] The company has offices across India, United States, Europe, and Asia.[4][5]
History
L&T Technology Services (LTTS) was founded in 2006 as L&T Integrated Engineering Services. In its first year, the company generated $70 million in revenue. Initially, it only operated as the engineering arm of Larsen & Toubro[2] and in 2013, as a result of L&T's strategy, the parent company was split into "nine verticals and six subsidiaries", of which this was one.[6][7] It began to expand its engineering services as a developer of corporate software under a new brand name L&T Technology Services (LTTS).[2]
In September 2016, LTTS had its initial public offering in the National Stock Exchange, making it the second L&T subsidiary to go public.[8][9] A. M. Naik, the current group chairman of the parent company, remained chairman of the subsidiary until his retirement in October 2017.[7][5] Keshab Panda was named as the CEO and managing director [2] and S.N.Subrahmanyan as vice chairman of the company.[10][11]
In 2016, LTTS developed a set of personal safety gear that is based on cloud-enabled technologies. The system includes a set of "helmets, gloves, jackets and shoes that have sensors capturing [the wearers] performance, and sending it to a centralized database on the cloud."[12]
In March 2017, it opened a center of excellence in Munich, Germany.[13] In June 2017, LTTS completed the acquisition of the Esencia, a San Jose, California-based engineering firm involved in development of "wireless connectivity solutions, perceptual computing, Internet of Things and advanced silicon products" for $27 million.[4][14] In July, the company was upgraded to Group A of the Bombay Stock Exchange.[15]
In May 2022, the company opened an engineering, research and development (ER&D) centre in Krakow, Poland.[16] In June 2022, LTTS set up an engineering design centre in Toulouse, France.[17]
In January 2023, LTTS announced that it would acquire parent L&T's "Smart World & Communication" business segment, which has interests in communication networks, cybersecurity and smart spaces, for Template:INR800 crore.[18]
In April 2024, L&T Technology Services partnered with Forvia to forge a €45 million deal.[19] In August 2024, LTTS signed a contract to resell the Thales Sentinel platform, a software monetization platform developed by French defence and aerospace company, Thales Group, to its customers.[20] In November 2024, L&T Technology Services announced the acquisition of Intelliswift for $110 million.[21]
See also
References
- ↑ Q4FY22 Investor Presentation. LTTS. Retrieved 8 January 2023.
- ↑ 2.0 2.1 2.2 2.3 Corporate: On The Road Less Taken. BW Businessworld(2017-02-03). Retrieved 2017-09-26.
- ↑ Financial Results FY25. BSE(2025-05-23). Retrieved 2025-05-23.
- ↑ 4.0 4.1 L&T Technology Services completes Esencia acquisition. Outlook India(2017-06-01). Retrieved 2017-09-26.
- ↑ 5.0 5.1 Western protectionism fears more media hype than actual: A M Naik. The Economic Times(2017-08-23). Retrieved 2017-09-26.
- ↑ L&T to focus on engineering services with new entity. The Hindu Business Line(2013-08-22). Retrieved 2017-09-26.
- ↑ 7.0 7.1 Naik's successor. Fortune India(2016-04-05). Retrieved 2017-09-26.
- ↑ L&T Technology IPO subscribed 2.5 times. The Economic Times(2016-09-16). Retrieved 2017-09-26.
- ↑ L&T Technology lists at Rs 920, up 7% over issue price. The Economic Times(2016-09-23). Retrieved 2017-09-26.
- ↑ 'What I Inherited Is Today 12% Of L&T; The Other 88% I Have Created'. BW Businessworld(20 September 2017). Retrieved 2018-01-12.
- ↑ L&T: The Ambidextrous Architect. BW Businessworld(20 September 2017). Retrieved 2018-01-12.
- ↑ Chatbots and more: How Indian IT is using automation to service customers. Business Standard India(2017-05-15). Retrieved 2017-09-26.
- ↑ L&T Technology Services opens center in Munich. The Economic Times(2017-03-23). Retrieved 2017-09-26.
- ↑ L&T Tech Q1 profit falls 9% on weak margins. The Economic Times(2017-07-25). Retrieved 2017-09-26.
- ↑ BSE to add 48 companies to Group 'A from July 17. India Today(2017-07-14). Retrieved 2017-09-26.
- ↑ L&T Technology Services opens Engineering R&D Centre in Poland, Sureban, Haripriya. www.thehindubusinessline.com(2022-05-26). Retrieved 2022-07-31.
- ↑ LTTS launches engineering design centre in France, to hire 100, Baruah, Ayushman. Mint(2022-06-28). Retrieved 2022-07-23.
- ↑ Larsen & Toubro sells business division to subsidiary LTTS for Rs 800 crore. Business Standard(12 January 2023). Retrieved 13 January 2023.
- ↑ L&T Technology Services and FORVIA Forge €45 Million Alliance to Accelerate Clean Mobility Engineering. Bru Times News.
- ↑ Thales and L&T Technology Services Expand Collaboration to Provide Innovative Business Models to Customers. Business Wire(21 August 2024). Retrieved 27 March 2025.
- ↑ L&T Technology Services acquires US-based Intelliswift for $110 million. Retrieved 11 November 2024.