India’s 5th largest IT services
L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group announced a merger that would create India’s fifth-largest IT services provider. The combined entity will be known as “LTIMindtree”.
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The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held on Friday approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion. These opportunities will create a more distinctive employee value proposition and stronger partnerships with ecosystem players.
Important takeaways for all competitive exams:
- Larsen & Toubro Infotech Limited Founded: 23 December 1996;
- Larsen & Toubro Infotech Limited Headquarters: Mumbai;
- Larsen & Toubro Infotech Limited CEO: Sanjay Jalona.