L&T Infotech Acquires US-based Electronic Design Services Firm

Larsen & Toubro Ltd (L&T) has announced that Larsen & Toubro Infotech Ltd (L&T Infotech), subsidiary of the Company, on December 13, 2006, has announced that it has signed a definitive agreement to acquire GDA Technologies, Inc, and all of its design centers in the USA and India.

GDA, a privately held electronic design firm based in California, USA, is one of the fastest growing companies in the Silicon Valley. It has over 350 employees in the USA and India and over 100 customers in the USA, Japan and India. GDA has expertise in various semiconductor developments from front-end design to physical design for design for deep sub-micron process technologies. Its portfolio of embedded hardware and software development capabilities along with the IP licensing provide GDA customers with a complete solution.

Commenting on the acquisition, Mr A M Naik, Chairman & Managing Director of the Company, and Chairman L&T Infotech, said, "GDA's electronic design capabilities are a key building block in our roadmap towards creating end-to-end solution delivery capability for our global customer base. Such acquisitions are an integral part of our strategic plan to strengthen our presence in the IT consulting and services space."

"This acquisition of GDA Technologies will help us deliver a broad set of chip design and product realization services to our global customers, thereby complementing our capabilities in the IT services space," said Mr Vijay Kumar Magapu, Chief Executive, L&T Infotech; Whole-time Director and Member of the Board of the Company.

All the three GDA founders will join the L&T Infotech management team and will help drive the product engineering service business to the next level.

Source : Equity Bulls

Keywords