L&T arm buys US electronic design services co
Larsen & Toubro Infotech Ltd, the software and services arm of Indian construction major Larsen & Toubro Ltd, said on Wednesday it had agreed to buy US-based GDA Technologies Inc for an undisclosed sum.
"This acquisition of GDA Technologies will help us deliver a broad set of chip design and product realisation services to our global customers," Vijay Magapu, Chief Executive of L&T Infotech, said in a statement.
L&T Infotech said it would acquire all of GDA’s design centres in the United States and India.
Privately-held GDA is based in California. It provides electronic design services and silicon intellectual property solutions for embedded networking and consumer electronics.
It has over 350 employees in the United States and India and over 100 customers in the United States, Japan and India.
At 0514 GMT Larsen and Toubro shares were trading down 0.43 per cent at Rs 1,388 in a Mumbai market that was down 0.4 per cent.
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