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Peoria, Illinois, USA and Mumbai, India – Oct 8-2014: L&T Technology 91ԭ��, the wholly owned subsidiary of $14.3Bn Larsen & Toubro group today announced the intent to acquire the assets of U.S.- based Dell Product and Process Innovation 91ԭ�� (formerly eServ), the Engineering 91ԭ�� division of Dell (“Dell Engineering 91ԭ��”). The Competition Commission of India (CCI) has approved the proposed transaction. The company is awaiting US regulatory approvals which are expected shortly.

The proposed transaction will significantly drive forward L&T Technology 91ԭ��’ position as a premier Engineering 91ԭ�� provider by adding local delivery centers in North America. Dell Engineering 91ԭ�� also has delivery centers in Hyderabad and Bangalore in India,. This enhances L&T Technology 91ԭ��’ ability to offer differentiated technology solutions and full program management services by leveraging global-local talent base at any point in the product development cycle.

Headquartered in Peoria, Illinois, Dell Engineering 91ԭ�� has over 15 years of extensive experience in Mechanical Design & Analysis, Embedded Engineering, Applied Engineering, and Manufacturing Consulting across multiple industries and has long term relationships with marquee clients in North America, especially in the transportation industry.

This proposed acquisition enables L&T Technology 91ԭ�� to consolidate its position as preferred vendor in the USD $4 billion Transportation ER&D market.1 The acquired assets will enable L&T Technology 91ԭ�� to leverage the customer base and complementary capabilities of Dell Engineering 91ԭ�� along with L&T Technology 91ԭ��’ broader portfolio of Embedded and PLM offerings, supported by a global sales force. The closure of transaction is expected around this quarter, subject to certain regulatory approvals.

   1 Market Size of Indian ER&D Offshoring Revenues in Transportation (Automotive, Aerospace, Construction Equipment) Source: Booz

Commenting on the transaction, Dr. Keshab Panda, Chief Executive of L&T Technology 91ԭ�� said “Product engineering is undergoing structural shifts with evolving technologies, shorter development cycles, regulatory demands, and a shortage of skilled talent. This is a tremendous opportunity for us to have a strong local presence in North America where a majority of our clients are based. That along with Dell Engineering 91ԭ��’ strong expertise in Embedded, and Mechanical Design & Analysis and a history of successful relationships in North America will help us ride the next level of growth”

About L&T

Larsen & Toubro is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide. A strong, customer–focused approach and the constant quest for topclass quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.