PR89640

WARREN, N.J. and BANGALORE, India, May 20, 2021 /PRNewswire=KYODO JBN/ --

- Acquisition to enhance Mindtree's cloud-based IoT and AI capabilities for

Industry 4.0

    Mindtree [https://www.mindtree.com/], a leading digital transformation and

technology services company, announced today that it has signed an agreement to

acquire the NxT Digital Business, the cloud based IoT and AI platform for

Industry 4.0 of L&T Group.

    The NxT Digital Business, was founded as a startup with broad digital

capabilities within L&T. It has played an instrumental role in extensive

applications of IoT technology and digitalization of many aspects of L&T's

operations where numerous assets were connected and factories were digitalized

to make the company's operations data driven for objective decision making. NxT

Digital Business leverages the Group's deep industry domain expertise with

emerging technologies like industrial IoT, artificial intelligence, machine

learning and augmented and virtual reality, geospatial and cybersecurity

applications to deliver disruptive business outcomes for its global customers.

    Mindtree and NxT Digital Business' combined offerings will bring scale and

market agility to meet the growing end-to-end digital transformation demands of

customers. That will help accelerate the journey to Industry 4.0, which

involves smart automation of industry and manufacturing to gain agility and

customer-centricity. Mindtree will leverage NxT Digital Business' capabilities

across several industry segments in integrating sensors and telemetry data with

its advanced data analytics and insights leadership to drive digitization

across the manufacturing and engineering value chain, deliver tangible

operational efficiencies and a differentiated customer experience.

    "There is a huge opportunity ahead as global manufacturers and industrial

companies are increasingly adopting Industry 4.0 focused smart solutions,

systems, and processes, but are struggling to leverage data and analytics to

drive efficiency and competitive advantage," said Mr. S. N. Subrahmanyan, Chief

Executive Officer & Managing Director, Larsen & Toubro Limited. "NxT Digital

Business experience, talent, expertise and credentials, coupled with Mindtree's

global scale, technology leadership, and deep understanding of domain and

delivery, are a powerful combination of focus and capabilities to meet clients'

requirements."

    "Industrial and manufacturing companies are starting to adopt digital

technologies across the value chain, but need a partner with expertise to

strategically connect the dots and generate business value from their data,"

said Mr. Debashis Chatterjee, Chief Executive Officer & Managing Director,

Mindtree Limited. "The acquisition will complement our significant strengths in

reimagining consumer experience, positioning us as one of the leading partners

for leveraging data and analytics to drive insights and deliver

transformational services to our clients."

    The acquisition is subject to customary closing conditions.

    About Mindtree

    Mindtree (NSE: MINDTREE) is a global technology consulting and services

company, helping enterprises marry scale with agility to achieve competitive

advantage. "Born digital," in 1999 and now a Larsen & Toubro Group Company,

Mindtree applies its deep domain knowledge to 270 enterprise client engagements

to break down silos, make sense of digital complexity and bring new initiatives

to market faster. We enable IT to move at the speed of business, leveraging

emerging technologies and the efficiencies of Continuous Delivery to spur

business innovation. Operating in 24 countries across the world, we're

consistently regarded as one of the best places to work, embodied every day by

our winning culture made up of over 23,800 entrepreneurial, collaborative and

dedicated "Mindtree Minds."

    To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd

    For more information, contact: media@mindtree.com

    Logo: https://mma.prnewswire.com/media/1004066/Mindtree_Logo.jpg

    Source: Mindtree