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.
About L&T Technology 91ԭ Ltd
L&T Technology 91ԭ Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as of September 30, 2019.
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