Larsen & Toubro Infotech completes acquisition of Cuelogic Technologies

By: |
July 08, 2021 12:48 PM

In June this year, LTI said it will acquire Cuelogic Technologies for USD 8.4 million (about Rs 61.6 crore).

Larsen & Toubro InfotechThe company completed the acquisition of 100 per cent shareholding of Cuelogic on July 7, 2021.

Larsen & Toubro Infotech (LTI) on Thursday said it has completed acquisition of Cuelogic Technologies, a digital engineering and outsourced product development company. In June this year, LTI said it will acquire Cuelogic Technologies for USD 8.4 million (about Rs 61.6 crore).

The company completed the acquisition of 100 per cent shareholding of Cuelogic on July 7, 2021. Consequently, Cuelogic is now a wholly owned subsidiary of the company and Cuelogic Technologies Inc., US, is now a wholly owned step-down subsidiary of the company, LTI said in a regulatory filing. Cuelogic, which is the seventh acquisition by LTI since the company got listed in 2016, will be integrated with the digital practice of Larsen and Toubro Infotech, the company had earlier said in a statement.

Pune-headquartered Cuelogic, which was founded in 2010, primarily focuses on developing cloud native web and mobile applications, modernisation, and runs Innovation Lab as a service for its clients in the US and India.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Indian Oil Corporation to build green hydrogen plant at Mathura refinery
2RIL profit declines 7.3% to Rs 12,273 crore, misses estimate
3Phased reduction of alcoholic beverages tariffs needed: Icrier report