L&T Technology Services Limited on Wednesday announced that it has secured a multi-year agreement valued at $100 million with a US-based industrial equipment manufacturer. This strategic partnership marks a pivotal moment for L&T Technology Services, as it aligns with the growing demand for innovation and AI-enabled transformations in the industrial sector, specifically within the semiconductor value chain, the IT major said in a stock exchange filing on 1 October.
As per the agreement, L&T Technology Services (LTTS) will provide extensive support for the client’s initiatives in several critical areas, the statement said. These include new product development, sustenance engineering, value engineering, and platform automation. The project is expected to leverage LTTS’s deep expertise in artificial intelligence, computer vision, and next-generation automation technologies. As part of the agreement, LTTS will establish a Center of Excellence (CoE) dedicated to the client. This center will serve as a hub for accelerating innovation, simplifying platforms, and enhancing application engineering. The establishment of this CoE is a strategic move designed to facilitate the client’s transition towards a more digital and AI-driven future.
The partnership underscores LTTS’s commitment to driving innovation within high-growth industries. Amit Chadha, CEO & Managing Director, L&T Technology Services, said, “We deeply value the trust and confidence our client has placed in us and are committed to further strengthening this relationship as we move ahead with this transformational program. This engagement underscores LTTS’ expertise in leveraging AI-driven innovation to address complex engineering challenges in high-growth industries. By harnessing our capabilities in AI, automation, and product engineering, we are empowering our client to further expand their market share and stay ahead of the curve.”
At 10:30 AM, the shares of LTTS were trading marginally higher at ₹4125.45 apiece, up 0.27% from the previous close on BSE, while the benchmark Sensex jumped 283.67 points or 0.35% to 80,551.29.
Disclaimer: The first draft of this article was produced from AI
