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LTI to Acquire Powerupcloud Technologies to Boost Cloud Consulting Capabilities
Tuesday 22 October 2019

22 October 2019 - India-based IT solutions and services company Larsen and Toubro Infotech Ltd. (NSE: LTI) (BSE: 540005) is acquiring India-based cloud consulting company Powerupcloud Technologies Pvt. Ltd. to bolster cloud consulting and digital transformation capabilities, the company said.
Terms of the transaction were not disclosed.
With more than 180 employees, Powerup brings a strong team of cloud consulting, artificial intelligence and data analytics professionals to LTI.
Powerup would add two AI-based platforms to LTI's powerful suite of offerings. CloudEnsure.io, an autonomous Cloud Governance Platform that continuously monitors an enterprise's cloud services, detects security and compliance violations in real-time and recommends or executes appropriate fixes.
The other platform is Botzer.io, an Enterprise AI Platform that helps organisations adopt AI faster across Natural Language Processing, Image Recognition, Deep Learning use-cases and saves time spent in trial-and-error experimentation.
Powerup is the sixth acquisition by LTI since the company got listed in 2016 and fourth in this calendar year.
LTI (NSE: LTI) is a global technology consulting and digital solutions company helping more than 360 clients succeed in a converging world. Founded in 1997, LTI is a subsidiary of Larsen and Toubro Ltd.
Powerup is a born-in-the-cloud, Premier Consulting Partner of AWS. It is the only AWS certified partner in APAC to have both Data and Analytics Competency and Machine Learning Competency, and one of the few certified partners of AWS with competencies across Migration, DevOps, Financial Services, Well-Architected, and Security and Compliance.
With expertise across cloud, big data, artificial intelligence, and product engineering, Powerup is also a Gold Partner of Microsoft Azure and a Cloud Consulting Partner of Google Cloud Platform.
Details
Date Published: 22/10/2019
Target: Powerupcloud Technologies Pvt. Ltd
Country: India
Sector: IT/Online Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Larsen and Toubro Infotech Ltd
Comment:
Terms of the deal were not disclosed

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