With an aim to enhance focus on core business, L&T Infotech, a global provider of information technology services and solutions, and a wholly-owned subsidiary of the USD 14.3 billion Larsen & Toubro (L&T), has completed the acquisition of Information Systems Resource Centre Pvt. Ltd. (ISRC). ISRC was a subsidiary of Otis Elevator Co., which is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp.
On this occasion Mr. V.K. Magapu, Managing Director, L&T Infotech said, “As a major IT supplier, L&T Infotech plans to leverage the technology capability and experience of ISRC in order to enhance its value-add to UTC.”
Mr. Omar Fathi, Vice President, Information Technology, UTC Building & Industrial Systems said, “This allows UTC Building & Industrial Systems’ IT organization to focus on supporting the company’s core businesses while allowing ISRC and its employees to grow and serve its customers under the new ownership.”
L&T Infotech has two key vendor facilities in Mumbai serving UTC Building & Industrial Systems, as well as a team of professionals serving various divisions of UTC.
L&T Infotech is comprised of 20,000 IT professional across the globe. This acquisition will bring a number of learning and career growth opportunities for the ISRC employees including opportunities for technical skill enhancement and exposure to new technologies.
About L&T Infotech:
L&T Infotech is a wholly-owned subsidiary of the USD 14.3 billion Larsen & Toubro (ranked 4th in the global list of Green Companies in the industrial sector by Newsweek international) which has a presence in construction, engineering, manufacturing and financial services. L&T Infotech is ranked by NASSCOM as the 8th largest software & services exporter from India and among the top 20 IT BPO employers.
L&T Infotech provides end-to-end solutions and services in Banking & Financial Services; Insurance; Energy & Process; Hi-tech & Consumer Electronics; Utilities, Engineering & Construction; Consumer Packaged Goods, Retail & Pharmaceuticals; Auto & Aerospace; Media & Entertainment; Healthcare; Plant Equipment & Industrial Machinery and Travel & Logistics; as well as Testing; Mobility; Infrastructure Management Services; BI/DW; SAP; Oracle and Microsoft; Enterprise Integration; and Manufacturing Execution Systems in addition to an innovative CIO-thought partnership program that provides a value-driven edge to clients.
Headquartered in Mumbai, India, the Company is differentiated by its unique three-pronged value proposition encompassing Business-to-IT Connect, Engage the Future and Execution Excellence.