Mindtree To Merge With L&T Infotech, Creating A $22 Billion Fortune?
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L&T Infotech and Mindtree to merge and create $22 BN Firm?
With the Indian information technology (IT) services sector witnessing strong growth momentum on the back of digital transformation, multinational conglomerate Larsen & Toubro (L&T) is all set to merge its IT services business units — L&T Infotech (LTI) and Mindtree.
A Bloomberg report stated that the merger announcement could be announced as early as next week, with details of share-swap ratios. However, mid-cap IT services firm Mindtree in its earning call said that the news is pure hearsay and it wouldn’t respond to speculation.value, by merging these two companies into a bigger entity,” said a source in the know.“This merger also fits in with the group’s vision to morph into a services-focused conglomerate.
An email sent to L&T read: “We do not comment on speculative news.” An email sent to LTI did not elicit a response.
“The merger was always on the cards. The timing is right. Both companies have performed very well and the group wants to unlock this
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