| L&T Technology Services | |
| Former Name: | L&T Integrated Engineering Services |
| Type: | Public |
| Traded As: | |
| Services: | Engineering design Research and development Product lifecycle management |
| Location City: | L&T Knowledge City, Vadodara, Gujarat |
| Location Country: | India |
| Area Served: | Worldwide |
| Key People: | Amit Chadha Keshab Panda Rajeev Gupta [1] [2] |
| Revenue: | (FY24) |
| Operating Income: | (FY24) |
| Net Income: | (FY24)[3] |
| Assets: | (FY24) |
| Equity: | (FY24) |
| Num Employees: | 23,812 (March 2024)[4] |
| Parent: | Larsen & Toubro |
L&T Technology Services (LTTS) is an Indian multinational technology company that provides engineering research and development (ER&D) services, headquartered in Vadodara. The company's business interests include automotive engineering, embedded system and semiconductor engineering, industrial internet of things, manufacturing plant engineering, and medical engineering.[5]
LTTS is a subsidiary of the conglomerate Larsen & Toubro (L&T), and listed on both NSE and BSE.[6] [7] The company has offices across India, United States, Europe, and Asia.[8]
L&T Technology Services (LTTS) was founded in 2006 as L&T Integrated Engineering Services. In its first year, the company generated $70 million in revenue. Initially, it only operated as the engineering arm of Larsen & Toubro and in 2013, as a result of L&T's strategy, the parent company was split into "nine verticals and six subsidiaries", of which this was one.[9] [10] It began to expand its engineering services as a developer of corporate software under a new brand name L&T Technology Services (LTTS).
In September 2016, LTTS had its initial public offering in the National Stock Exchange, making it the second L&T subsidiary to go public.[11] [12] A. M. Naik, the current group chairman of the parent company, remained chairman of the subsidiary until his retirement in October 2017.[13] Keshab Panda was named as the CEO and managing director and S.N.Subrahmanyan as vice chairman of the company.[14] [15]
In 2016, LTTS developed a set of personal safety gear that is based on cloud-enabled technologies. The system includes a set of "helmets, gloves, jackets and shoes that have sensors capturing [the wearers] performance, and sending it to a centralized database on the cloud."[16]
In March 2017, it opened a center of excellence in Munich, Germany.[17] In June 2017, LTTS completed the acquisition of the Esencia, a San Jose, California-based engineering firm involved in development of "wireless connectivity solutions, perceptual computing, Internet of Things and advanced silicon products" for $27 million.[18] In July, the company was upgraded to Group A of the Bombay Stock Exchange.[19]
In May 2022, the company opened an engineering, research and development (ER&D) centre in Krakow, Poland.[20] In June 2022, LTTS set up an engineering design centre in Toulouse, France.[21]
In January 2023, LTTS announced that it would acquire parent L&T's "Smart World & Communication" business segment, which has interests in communication networks, cybersecurity and smart spaces, for 800 crore.[22]
In April 2024, L&T Technology Services partnered with Forvia Forge at €45 million deal.[23]
In November 2024, L&T Technology Services announced the acquisition of Intelliswift for $110 million.[24]