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L&T to acquire semiconductor design firm SiliConch
VCCircle
·
1y ago
Medial
Indian engineering and construction company Larsen & Toubro (L&T) is set to acquire semiconductor design firm SiliConch Systems, in a move to strengthen its presence in the fabless semiconductor business. L&T's wholly owned subsidiary L&T Semiconductor Technologies will purchase a 100% stake in SiliConch for up to INR183 crore ($21.9m). The deal is expected to be completed by 15 September. L&T said the acquisition aligns with the growth strategy of its semiconductor arm and will provide it with intellectual property, engineering skillsets and design expertise.
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L&T Semiconductor Technologies Partners With IBM To Design Processors
Inc42
·
11m ago
Medial
IBM and L&T Semiconductor Technologies have partnered with a focus on research and development to design advanced processors. The collaboration will encompass processor design for edge devices, hybrid cloud systems, as well as various sectors including mobility, industrial, energy, and servers. This partnership is part of the growing semiconductor activity in India, where the country is attracting investments from major players in the industry.
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L&T boosts AI, data centre ambitions with E2E Networks deal
Livemint
·
9m ago
Medial
Engineering major, Larsen & Toubro (L&T) is set to invest in AI cloud platform provider, E2E Networks. This move is expected to accelerate L&T's offerings in the data centres and AI space, giving access to E2E's existing AI cloud platform. L&T recently operationalised data centres in Panvel and Chennai, and the collaboration with E2E will provide an enterprise cloud layer for its clients. L&T plans to invest INR 1,407 crore to acquire a 21% stake in E2E Networks. This strategic partnership aims to leverage client relationships and drive growth in the AI and digital transformation space.
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L&T to buy 21% stake in cloud services firm E2E Networks
VCCircle
·
9m ago
Medial
Indian engineering conglomerate Larsen & Toubro (L&T) has agreed to acquire a 21% stake in cloud services firm E2E Networks in a deal worth INR 1,407 crore ($186.2m). L&T will initially invest INR 1,079.27 crore for a 15% stake, followed by an additional 6% stake for INR 327.75 crore. Although the company will become a minority shareholder, it aims to leverage E2E Networks' artificial intelligence and cloud solutions to strengthen its position in the cloud infrastructure market. This partnership is expected to benefit both companies in tapping into India's growing demand for AI and cloud capabilities.
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Indian firms target overseas assets to fast-track semiconductor ambitions
Economic Times
·
1m ago
Medial
Indian semiconductor companies are targeting strategic overseas acquisitions to boost their chip manufacturing and assembly ambitions, aiming to gain proprietary expertise, precision equipment, and critical intellectual property. Key players like Tata Electronics and L&T Semiconductor Technologies are acquiring foreign assets while investing in greenfield facilities in India. These acquisitions are crucial for upskilling local workforces and establishing robust training pipelines. The move towards advanced packaging technologies could enhance India's global position in the semiconductor industry.
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L&T commissions first indigenously built Hydrogen Electrolyser at Hazira
Thehindubusinessline
·
1y ago
Medial
Larsen & Toubro (L&T) has commissioned its first domestically produced electrolyser at the Green Hydrogen Plant in Gujarat. The plant features a 1 MW electrolyser capacity with the ability to produce 200 Nm3/Hr of hydrogen. L&T Electrolysers Ltd, a subsidiary of L&T, aims to lead in the domestic and global markets for clean energy solutions. The company plans to leverage its upcoming facility in Hazira to meet the growing demand for green hydrogen. L&T Electrolysers has also been allocated a significant capacity under the National Green Hydrogen Mission.
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AM Naik steps down as Chairman of LTIMindtree; SN Subrahmanyan to succeed
Livemint
·
1y ago
Medial
A. M. Naik will step down as Chairman of L&T Mindtree, with S. N. Subrahmanyan taking over the role on June 27, 2024. Naik has been praised for significantly increasing shareholder value and transforming L&T Mindtree into a global leader. He expressed pride in the company's growth and confidence in Subrahmanyan's leadership. Known as SNS, Subrahmanyan played a key role in L&T Mindtree's growth, including the acquisition of Mindtree and its subsequent merger. He acknowledged Naik's efforts and expressed gratitude for the opportunity to continue L&T Mindtree's legacy.
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L&T Technology Services fires 200 employees
Livemint
·
1y ago
Medial
Engineering services firm L&T Technology Services (LTTS) has reportedly laid off 200 employees in mid-to-senior roles as part of its performance cycle and to reduce role overlaps. The job cuts mainly affected delivery and support functions due to increased automation. L&T Technology Services has about 24,000 employees and discussions are underway for potential additional job cuts in January. The company, however, mentioned plans to continue hiring in areas like plant engineering, digital, AI, and software-defined vehicles.
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L&T aims to become first Indian semicon chip maker in global market: CEO | Mint
Livemint
·
12m ago
Medial
Engineering and construction conglomerate L&T Semiconductor Technologies (LTSCT) plans to invest $10-12 billion in building three semiconductor fabs in India over the next five to 10 years. The company aims to become a multinational semiconductor player and the first global semiconductor company operating from India, with headquarters in the country and a presence in the US, Europe, and Japan. The investment is contingent on generating $1 billion in annual revenues, and the fabs will produce different technologies such as high-end silicon chips, mid-to-low-end silicon carbide chips, and gallium nitride chips.
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Vinit Teredesai resigns as LTIMindtree CFO, Vipul Chandra to take over
Livemint
·
1y ago
Medial
Vinit Teredesai has resigned as the CFO of LTIMindtree Ltd to explore opportunities outside the L&T group. He will be replaced by Vipul Chandra, who has been with parent firm L&T Ltd since 2013. Teredesai played a key role in the growth and merger of LTIMindtree. This resignation follows several other high-profile exits from LTIMindtree since the merger in November 2022. The company reported mixed results for the December quarter, with revenues of $1.08 billion and a net profit of $140.5 million.
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How L&T is engineering an AI-driven conglomerate
Livemint
·
1y ago
Medial
Larsen and Toubro (L&T), India's largest engineering and infrastructure conglomerate, is leveraging digital technologies such as RFID tags, geofencing, IoT devices, drones, robotic process automation, and AR/VR tools to monitor and optimize its assets. By using these tools, L&T aims to reduce waste and pilferage while increasing productivity. For example, L&T utilizes automated geofencing to monitor the location of visitors and IoT devices to track fuel and materials consumption. The company has also implemented AI and machine learning for predictive analytics, risk assessment, and productivity tracking. L&T's digital initiatives have resulted in significant cost savings and improved efficiency.
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