Log In

 

Company Name : L&T Technology Services Limited

Thursday, June 1, 2017 12:40PM IST (7:10AM GMT)

(NSE:LTTS)(BSE:540115)

L&T Technology Services Limited (LTTS) Announces Completion of Esencia Acquisition


US-based Esencia Technologies to become subsidiary of LTTS


San Jose, United States & Bangalore, Karnataka, India

L&T Technology Services Limited (LTTS) (BSE: 540115) (NSE: LTTS), a leading global pure-play engineering services company, today announced the completion of the acquisition of Esencia Technologies, a provider of design services from specification to final product in Digital Signal Processing for Communications, Video, Security and Networking. San Jose- based Esencia will become a subsidiary of LTTS.

On May 3, LTTS had signed a definitive agreement to acquire Esencia to deepen its offerings to global customers in the realm of Wireless Connectivity Solutions, Perceptual Computing, Internet of Things and Advanced Silicon Products. Esencia’s existing team of over 100 Embedded, ASIC design and semiconductor experts in Silicon Valley will become part of the LTTS family.

The Esencia acquisition brings huge cross leverage potential adding synergistic business to LTTS, enabling the company to offer high-end VLSI and ASIC services to its global customers across hi-tech and semiconductor industries. With LTTS & Esencia coming together, the VLSI / Embedded expertise of the combined team will help LTTS go after larger deals with a specific focus on embedded space.

“We are pleased to welcome Esencia into the LTTS family. The acquisition will act as one of our major growth levers and boost our portfolio of offerings in the embedded space. The synergies will also help in creation of new services in building advance silicon and embedded products in perceptual computing, wireless connectivity solutions, storage & networking and IoT solutions for customers worldwide,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services.

“Esencia is delighted to be part of such a large engineering services family. The combined team will be making new innovations, build ASIC/SOC products and embedded system solutions for our customers and enhance our offerings to the biggest technology companies in the world,” said Mr Pratap Reddy, CEO Esencia.

About L&T Technology Services Limited

L&T Technology Services Limited is a subsidiary of Larsen & Toubro Limited focused on Engineering and R&D Services (ER&D) addressing global customers including Fortune 500 companies. The company offers consultancy, design, development and testing services across the product and process development life cycle for various industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Digital Engineering portfolio of offerings from L&T Technology Services help build Smart Products & Services and offer Smart Manufacturing services and solutions to customers. The company also offers services and solutions in software engineering, embedded systems, mechanical & manufacturing engineering, value engineering and plant & process engineering.
 
Headquartered in India, L&T Technology Services Limited has more than 10,000 employees, 12 global delivery centers in India and overseas, 27 sales offices in India, North America Europe, the Middle East and Asia and 34 labs in India as of March 31, 2017. For additional information about L&T Technology Services log on to www.LntTechservices.com.


Click here for Media Contact Details

Aniruddha Basu, L&T Technology Services Limited, +91 (80) 67675173, Aniruddha.Basu@LntTechservices.com


More News from L&T Technology Services Limited

07/11/2017 5:12PM

Top Client Traction and Large Deal Wins Drive a 9.5 percent Revenue Growth in Q2 for L&T Technology Services

L&T Technology Services Limited (LTTS) (BSE:540115) (NSE: LTTS), announced its results for the second quarter ended September, 2017.

25/10/2017 9:30AM Image

L&T Technology Services Conferred with CII Industrial Innovation Award, 2017

L&T Technology Services Ltd (LTTS), a leading global pure play engineering services company, was conferred with the CII Industrial Innovation Award, 2017 that recognized it as one of the most innovative Indian companies ...

25/09/2017 10:00AM Image

L&T Technology Services Limited Sets up Development Center Dedicated to Support Danish Wind Energy Leader Vestas

L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering R&D services company, announced the formal establishment of an engineering solutions delivery center in Chennai, India that is focused ...

Similar News

18/11/2017 12:27PM Image

UAE Exchange India Awarded for Business Excellence Award More than Once

UAE Exchange India is a legendary financial institution through decades of expertise in serving the customer with financial services, molding a company into best financial service provider of the nation. As a ...

No Image

18/11/2017 11:10AM Image

Frost & Sullivan and CNI Jointly Host the First Edition of 2017 Nepal Business Excellence Awards in Kathmandu

Frost & Sullivan and Confederation of Nepalese Industries (CNI) concluded the first edition of 2017 Nepal Business Excellence Awards (NBEA) on November 14that Hotel Soaltee Crowne Plaza, Kathmandu, Nepal. This year, ...

News Summary

L&T Technology Services Limited (LTTS) (BSE: 540115) (NSE: LTTS), a leading global pure-play engineering services company, today announced the completion of the acquisition of Esencia Technologies, a provider of design services from specification to final product in Digital Signal Processing for Communications, Video, Security and Networking. San Jose- based Esencia will become a subsidiary of LTTS.