Digital Transformation and Technology Services Company, Mindtree announced that it will acquire the NxTDigital Business, the cloud-based IoT and AI platform of L&T Group.  The acquisition is subject to customary closing conditions.

The NxT Digital Business was founded as a startup with broad digital capabilities within L&T. It has played an instrumental role in extensive applications of IoT technology and digitalization of many aspects of L&T’s operations, numerous assets were connected and factories were digitalized to make the company's operations data-driven.

Mindtree will leverage NxT Digital Business capabilities across several industry segments in integrating sensors and telemetry data with its advanced data analytics.

"NxT Digital Business experience, talent, expertise and credentials, coupled with Mindtree’s global scale, technology leadership, and deep understanding of domain and delivery, are a powerful combination of focus and capabilities to meet client's requirements," said S. N. Subrahmanyan, Chief Executive Officer & Managing Director, Larsen & Toubro Limited.

"Industrial and manufacturing companies are starting to adopt digital technologies across the value chain, but need a partner with the expertise to strategically connect the dots and generate business value from their data," said Debashis Chatterjee, Chief Executive Officer & Managing Director, Mindtree Limited.

"The acquisition will complement our significant strengths in reimagining consumer experience, positioning us as one of the leading partners for leveraging data and analytics to drive insights and deliver transformational services to our clients," he added.