L&T Technology Services (LTTS) has announced the acquisition of Intelliswift, a California-based software and artificial intelligence (AI) company, in a deal valued at $110 million. This acquisition aims to strengthen LTTS’s expertise in software product development, platform engineering, digital integration, data, and AI.
“With this acquisition, LTTS will also be able to address adjacent markets in retail and fintech, along with the private equity channel,” the company said in a statement.
The move is expected to enhance LTTS’s digital engineering offerings for global clients by incorporating Intelliswift’s AI-driven automation framework. Intelliswift currently serves four of the top five hyperscalers and over 25 Fortune 500 companies, including five of the top 10 spenders in engineering, research, and development (ER&D) within the software and technology sectors.
Amit Chadha, CEO and managing director of LTTS said: “The acquisition of Intelliswift strengthens our digital and software product engineering capabilities, expands strategic client partnerships with major technology spenders, boosts our presence in Silicon Valley, and advances us towards our $2 billion medium-term goal.”
Pat Patel, founder and executive chairman of Intelliswift, said: “Our customers will benefit from innovative advancements throughout the software and digital platform lifecycle.” He added that the goal is to become a leading technology partner for top hyperscalers and other major companies relying on business-critical products and platforms.
