LTI and Mindtree Announce Merger to Create India’s Next Large-Scale IT Services Player
Summary
MUMBAI, India--(BUSINESS WIRE)--The Boards of Directors of LTI and Mindtree at their respective meetings held today approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. Given that recent industry shifts (e.g., prominence of large deals, preference for end-to-end offerings) are benefitting at-scale players, the two companies have decided that the time is appropriate to combine the strengths of both organizations to better serve the customers. This will help us emerge as a partner of choice for large-scale tech transformations and create a distinctive employee value proposition.” Citigroup Global Markets India Private Limited acted as financial advisors to LTI. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 45,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees, and shareholders.
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