Mindtree to Acquire L&T Group's NxT Digital Business
Mindtree, a leading digital transformation and technology services company, stated that it has entered into an agreement to acquire L&T Group's NxT Digital business, a ,b>cloud-based IoT and AI platform for Industry 4.0.
The combined offerings of Mindtree and NxT Digital Business will provide scale and market agility to meet customers' growing end-to-end digital transformation demands.
This will speed up the transition to Industry 4.0, which encompasses smart automation of industry and manufacturing in order to increase agility and customer-centricity.
NxT Digital Business' expertise in combining sensors and telemetry data with Mindtree's advanced data analytics and insights leadership will be used to accelerate digitization. To which it will be done through the manufacturing and engineering value chain, to achieve real operational efficiencies, and provide a differentiated customer experience.
Inside L&T, the NxT Digital Business was founded as a startup with extensive digital capabilities. It has been instrumental in the extensive use of IoT technology and the digitalization of many facets of L&T's operations, where various assets have been linked and factories have been digitized to make the company's operations data-driven for objective decision making.
“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, CEO and Managing Director, Mindtree Limited.
“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, CEO and Managing Director, Larsen and Toubro Limited.
Chatterjee adds that, “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”
Mindtree, on the other hand, assists businesses in combining scale and agility to gain a competitive advantage. By applying its deep domain expertise to enterprise client engagements, it is able to break down silos, make sense of digital complexities, and accelerate the launch of new initiatives. It also enables IT to move at the pace of industry, exploiting new technology and Continuous Delivery's efficiencies to accelerate business innovation.
Subrahmanyan believes that NxT Digital Business’ experience, talent, expertise and credentials, coupled with Mindtree’s global scale, technology leadership, and deep understanding of domain and delivery, would be a powerful combination of focus and capabilities to meet clients’ requirements.
Likewise, Chatterjee is also in agreement of the same and he adds that, “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”.
Closing conditions for the acquisition are customary.