L&T Technology to acquire parent’s SWC business for Rs 800 crore

13 Jan 2023 , 09:45 AM

L&T Technology Services will acquire Larsen & Toubro Limited’s Smart World & Communication (SWC) Business in an all-cash deal worth Rs 800 crore.

Smart World & Communication (SWC) was established in 2016 to meet the needs of smart cities, address opportunities, and provide smart solutions in the areas of end-to-end communications, city surveillance, and intelligent traffic management systems for the government and businesses.

SWC employs over 700 engineers from various technology domains and has surpassed an annual revenue of Rs1,000 crore, according to LTTS.

The consideration of Rs800 crore is subject to customary working capital adjustments as set out in the agreement. 

According to the statement, SWC has expertise in Next-Gen Communications and has been instrumental in the network design, planning, implementation, and management of over 25,000 locations across India, including Network Operations Centers (NOC), OSS, Datacenter, and Cloud/Private 5G.

SWC has also installed 6 million smart metres in states such as Uttar Pradesh, Haryana, and Delhi.

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