The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro.[5] During 2001–2002, the company's name was changed from L&T Information Technology Ltd to L&T Infotech Ltd and in the same year the company achieved the assessed level of Software Engineering Institute's (SEI) Maturity Level 5.[6][7]
Between 2009 and 2012, parent Larsen & Toubro sought to scale up L&T Infotech by making a series of acquisition attempts, for Satyam Computer Services, Patni Computer Systems and Hexaware Technologies, all three of which proved to be unsuccessful.[8][9]
In 2013–14, L&T Infotech's engineering services segment was acquired by parent Larsen & Toubro's newly created technology and engineering services subsidiary called L&T Technology Services.[10][11]
The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.[15]
Mindtree merger
In June 2019, Larsen & Toubro completed its hostile takeover of Bengaluru-based company Mindtree, despite opposition from the latter's promoters.[16]
In May 2022, it was announced that Mindtree, which was then a different IT services subsidiary of Larsen & Toubro, will be merged into LTI,[17] and the company will be renamed as LTIMindtree.[17][18] Larsen & Toubro Group chairman A. M. Naik commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality in BFSI industry and was present in oil and gas sector, while Mindtree had a plurality in technology, media and telecommunications (TMT) with a presence in travel and hospitality.[19]
The merger was completed in November 2022. After the merger, LTIMindtree became India's fifth largest provider of IT services by market capitalisation and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.[20]
On 30 September 2024, LTI Mindtree declared its partnership with Currys by allowing changes to its omni-channel retail customer experiences increasing Salesforce Service Cloud, Commerce Cloud and MuleSoft.[21]
On 10 December 2024, LTI Mindtree entered into a strategic partnership with GitHub to accelerate AI-driven software engineering by integrating advanced DevOps tools and Generative AI capabilities.[22]
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