LTTS inks pact with Thales to provide innovative business models

22 Aug 2024 , 11:18 AM

On Wednesday (August 21), L&T Technology Services (LTTS) announced that it has secured a new contract with French aerospace firm Thales, extending their two-decade relationship.

This collaboration will use Thales’ software monetisation platform, Thales Sentinel, to provide innovative revenue models to LTTS customers, particularly in the high-tech, sustainability, and mobility sectors.

According to a stock exchange filing, LTTS’ sophisticated AI services in next-generation mobility and smart networks are critical in the development of resilient digital infrastructures that improve safety, efficiency, and sustainability.

With the Thales Sentinel software licensing and entitlement platform, LTTS will allow its clients to monetise its software solutions through recurring revenue business models such as agile subscriptions and flexible usage-based pricing.

Under the new agreement, LTTS will resell the Thales Sentinel platform to its customers and group affiliates worldwide in a variety of industries, including transportation, medical, high-tech, telecom, and financial services.

At around 10.52 AM, L&T Technology Services was trading 1.28% higher at ₹5,494 per piece, against the previous close of ₹5,424.45 on NSE. The counter touched an intraday high and low of ₹5,513.75, and ₹5,440, respectively.

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