L&T Technology Services Ltd to acquire 100% stake in Orchestra Technology

L&T Technology Services Limited (LTTS) has executed a definitive agreement to acquire 100% stake in Orchestra Technology, a specialist technology solutions provider for the Telecom industry. Orchestra is based in Texas, USA and will enable LTTS to strengthen its capabilities in network engineering and modernization.

Orchestra Technology is a specialist technology partner for the wireless and mobile eco-systems. The company delivers high value engineering services and solutions for telecom industry in the areas of Network Engineering & Operations (for 5G, 10T, RAN and CORE networks) and Enterprise Mobility. It is headquartered in Dallas, Texas and has an employee strength of around 80+.

- This acquisition will enable LTTS to strengthen its footprint in the Telecom OEM and Service Provider space

- Orchestra's capability in enabling OEM's and Service Providers manage and optimize network performance will form a key differentiator as 5G rollouts take off across geographies

- Orchestra's flagship tool infrastructure will provide a key differentiator for LTTS to expand their services and provide valuable asset to end customers

- Orchestra will help bolster LTTS investments as part of open network forums ONF and TIP across key elements of 5G like ORAN, Private Networks, NBIoT

Total Deal Value of USD 25 Million will be paid in tranches. USD 11 Million will be the upfront payment and USD 14 Million payment will be in the form of earn-outs and retention pay spread over 3 years.

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1455.2 as compared to the previous close of Rs. 1460.75. The total number of shares traded during the day was 16335 in over 2483 trades.

The stock hit an intraday high of Rs. 1515 and intraday low of 1427.4. The net turnover during the day was Rs. 24218166.

Source : Equity Bulls

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