Mindtree acquires NxT Digital Business
Computer consulting services company Mindtree acquires NxT Digital Business, a cloud-based Internet of Things (IoT) and artificial intelligence platform, for an undisclosed amount.
This is technology M&A deal number 288 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Both companies belong to Larsen & Toubro (L&T group). NxT Digital Business was founded as a startup with broad digital capabilities within L&T. Mindtree will leverage NxT Digital Business’s data analysis capabilities to integrate sensors and telemetry data, the company said.
Mindtree acquires NxT: Executive Insight
SN Subrahmanyan, CEO and Managing Director, Larsen & Toubro Limited, commented:
“There is a huge opportunity ahead as global manufacturers and industrial companies increasingly embrace intelligent Industry 4.0-focused solutions, systems and processes, but struggle to leverage data and intelligence. analyzes to increase their efficiency and competitive advantage. NxT Digital Business’s experience, talent, expertise and credentials, combined with Mindtree’s global scale, technological leadership and deep understanding of the field and delivery, is a powerful combination of focus and capabilities to meet customer requirements. “
Debashis Chatterjee, CEO of Mindtree, said:
“Industrial and manufacturing companies are starting to embrace digital technologies throughout the value chain, but need an experienced partner to strategically connect the dots and generate business value from their data. This acquisition will complement our important strengths in reinventing the customer experience, positioning us as a leading partner in leveraging data and analytics to generate insight and deliver transformational services to our customers. “
Mindtree was founded in India in 1999. L&T Group acquired the company in March 2019. This agreement created the sixth largest IT services company in India.
Mindtree in operates 24 countries around the world. In December 2017, Mindtree opened its first Network Operations Center (NOC) in North America in Scottsdale, Arizona.