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Mid-tier information technology company Larsen & Toubro Infotech (LTI) has completed the acquisition of Cuelogic Technologies Private Limited.
“We would like to inform that the company has completed the acquisition of 100% shareholding of Cuelogic on July 7, 2021,” LTI said in a regulatory filing on Thursday.
Consequently, Cuelogic will now be a wholly-owned subsidiary of LTI and Cuelogic Technologies Inc.
LTI announced on June 16 that it had signed a definitive agreement to acquire Cuelogic Technologies, a digital engineering and outsourced product development company, headquartered in Pune, India.
Founded in 2010, Cuelogic has built capabilities in digital engineering, and primarily focuses on developing cloud-native web and mobile applications, modernisation, and runs Innovation Lab as a service for its clients in the USA and India.
“Cuelogic will be integrated with the Digital practice of LTI,” the company had said.
This is LTI’s seventh acquisition since it got listed in 2016. Earlier acquisitions have bolstered the company’s expertise around data & analytics, cloud consulting, intelligent automation, and industry-specific platforms.
This acquisition is meant to help enhance LTI’s digital engineering practice by combining Cuelogic’s people, tools, methodologies, training methodologies and onboarding structure along with its strong leadership team to support practice development, sales, and delivery.
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