LTTS to buy SWC biz from parent for Rs 800 crore

L&T Technology Services (LTTS), a subsidiary of construction major Larsen & Toubro, has entered into an agreement to acquire the Smart World & Communication (SWC) business from the parent, in an Rs 800-crore deal.

SWC is a connected intelligence solution provider with presence in communications, safe and smart solutions and cybersecurity. The company will fund the transaction, which is expected to close within three months, using its cash reserves, LTTS said in a regulatory update.

It has an employee base of more than 700 engineers from diversified technology domains, and recorded had posted revenue of Rs 1,098 crore in FY22.