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L&T Technology Services, a wholly-owned subsidiary of Larsen & Toubro, moved a step closer to acquiring the assets of the engineering division of Dell Engineering Services, with the Competition Commission of India according its approval for the transaction.
US regulatory approvals are still awaited, which L&T said will happen shortly. L&T expects to close the deal this quarter. The company, however, did not reveal the financial details of the proposed transaction.
Move to consolidate The acquisition will enable L&T Technology to consolidate its position as preferred vendor in the $4-billion transportation engineering research and development market, L&T said.
Headquartered in Peoria, Illinois, Dell Engineering Services has over 15 years of extensive experience in mechanical design and analysis, embedded engineering, applied engineering and manufacturing consulting across multiple industries.
Broader portfolio The acquisition will also help L&T Technology leverage the customer base and complementary capabilities of Dell Engineering Services along with its own broader portfolio of embedded and PLM (product lifecycle management) solutions, supported by a global sales force. Keshab Panda, Chief Executive of L&T Technology Services, said: “This is a tremendous opportunity for us to have a strong local presence in North America where a majority of our clients are based.”
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