L&T forms JV with Thales

SP's MAI - - CORPORATE -

L&T Tech­nol­ogy Ser­vices, a wholly-owned sub­sidiary of Larsen & Toubro Limited (L&T), has pur­chased 74 per cent of the eq­uity cap­i­tal of Thales Soft­ware In­dia Pvt. Ltd., the In­dian sub­sidiary of Thales, the global tech­nol­ogy leader in aero­space, trans­porta­tion and de­fence and se­cu­rity mar­kets. The joint ven­ture (JV) cap­i­talises on the ex­ist­ing strong re­la­tion­ship be­tween the two groups, L&T and Thales, and en­sures a long-term part­ner­ship in the en­gi­neer­ing ser­vices do­main. Fur­ther­more, the trans­ac­tion should en­able Thales to se­lect this new group as its In­dian Off­set Part­ner, re­sult­ing in in­flow of Off­set re­lated rev­enues in the joint ven­ture.

Dr Ke­shab Panda, Chief Ex­ec­u­tive, L&T Tech­nol­ogy Ser­vices, ex­pressed his con­fi­dence in this as­so­ci­a­tion: “This Joint Ven­ture rep­re­sents each or­gan­i­sa­tion’s strong com­mit­ment to pro­vide cus- tomers with a sin­gle source of best ser­vices in avion­ics in­dus­try,” he said. “We as an or­gan­i­sa­tion are at an in­ter­est­ing phase of our jour­ney where we are stream­lin­ing our ex­per­tise and strength­en­ing our knowl­edge. In such a phase join­ing hands with Thales adds to our pro­fi­ciency in the mar­ket,” he added.

Com­ment­ing on the joint ven­ture, Eric Len­seigne, Man­ag­ing Di­rec­tor of Thales in In­dia, said: “This JV is a re­flec­tion of our com­mit­ment to In­dia and our ob­jec­tive to strengthen our in­dus­trial foot­print in the coun­try. In ad­di­tion, this col­lab­o­ra­tion with L&T Tech­nol­ogy Ser­vices brings on­board a seam­less in­te­gra­tion of all el­e­ments and as­sures our cus­tomers qual­ity ser­vice and the high­est level of long-term, lo­cal prod­uct sup­port. We are sure that to­gether we would build on our ex­per­tise and pro­vide our cus­tomers with world-class tech­nol­ogy and ser­vices.”

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