L&T Technology Services announces completion of Orchestra Technology acquisition

L&T Technology Services Ltd, a leading global pure-play engineering services company, has completed the acquisition, effective October 02, 2020, of Dallas, Texas-based Orchestra Technology Inc., a specialist technology solutions provider for the telecom industry.

The acquisition is in accordance with the terms set out in the agreement announced by the company on July 16, 2020. Orchestra will help bolster LTTS' offerings in the areas of Network Engineering & Enterprise Mobility and open up new opportunities in next generation digital systems for 5G and IoT networks.

Following this transaction, Orchestra has become a wholly owned subsidiary of LTTS.

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1587.7 as compared to the previous close of Rs. 1615.9. The total number of shares traded during the day was 3914 in over 603 trades.

The stock hit an intraday high of Rs. 1648 and intraday low of 1582.85. The net turnover during the day was Rs. 6251388.

Source : Equity Bulls

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