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L&T’s arm inks pact to acquire Esencia Technologies

L&T Technology Services (LTTS), the IT services arm of the engineering major Larsen & Toubro (L&T), has signed an agreement to acquire US-based design services provider Esencia Technologies Inc. The company will pay $27 million to acquire the California-headquartered firm and $15 million will be paid upfront. The rest will be paid over a period of four years.

LTTS is aiming to strengthen its offerings in areas such as perceptual computing, internet of things, advanced silicon products and wireless networking technologies with fast, powerful and smart design tools and signal processing libraries.

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