L&T Technology Services, a wholly owned subsidiary of Larsen and Toubro Ltd, has bought 74 per cent equity stake in Thales Software India Pvt Ltd, a subsidiary of French multinational firm Thales, to strengthen its avionics business.
Thales is a global technology leader in aerospace, transportation and defence and security markets.
Following this deal, L&T Tech will manage and oversee management control, operations and delivery of services of the new joint venture. The collaboration will enhance its expertise in high-end avionics software, L&T said in a statement to the BSE.
With 26 per cent equity stake, Thales will help the company develop the latest trends in the avionics industry.