L&T Technology Services Bags $80-Mn Digital Engineering Deal from US Client Under the multiyear pact, LTTS to set up a center excellence (CoE) for Digital Products & Services and Data Management
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L&T Technology Services (LTTS), the engineering and technology services arm of Larsen and Toubro has bagged an USD 80-million multi-year deal from a US-based manufacturer of industrial products and solutions.
This strategic partnership is expected to accelerate the client's digital transformation through the integration of advanced technologies, including connected products and the digital thread, paving the way for greater innovation at scale.
"This net new latest deal win in the Sustainability segment will see LTTS establish a dedicated CoE in India, which will act as a global innovation hub enabling the client to focus on digital transformation and comprehensive product lifecycle management (PLM). This initiative is designed not only to support the client's transformation journey but also to enable the expansion of their global footprint, particularly in new age and digital technologies that are redefining industries worldwide," LTTS said in a statement.
Amit Chadha, CEO and MD of L&T Technology Services, said, "This engagement is a testament to LTTS' ability to drive sustainable end-to-end digital transformation for global leaders. By combining AI-powered insights, digitally connected solutions, business-driven automation and our deep engineering expertise, we aim to enable the client to bring high-quality products to market faster, ultimately delivering greater value to their customers."
The deal comes at a time when most of the leading IT services companies like Tata Consultancy Services (TCS), HCLTech, and Wipro are betting on small- and mid-sized deals valued under USD 100 million to drive revenue growth.
"Many Indian IT companies favor large deals for their size and predictability. However, some prefer transformational deals that, while smaller in size, are more profitable for providers and create greater value for clients. Large deals have fallen out of favor with end clients due to their tendency to create stickiness, inflexibility, and inefficiency," said DD Mishra, VP Analyst, Gartner.
