 "L&T Tech Services to acquire Dell's engineering services unit")
L&T Technology Services is planning to acquire the engineering services business of Dell Product and Process Innovation Services (formerly eServ). The deal amount is not disclosed.
According to L&T, the proposed transaction will drive forward the company’s position as a premier engineering services provider by adding local delivery centres in North America.
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Headquartered in Peoria, Illinois, Dell Engineering Services deals in mechanical design & analysis, embedded engineering, applied engineering, and manufacturing consulting across multiple industries. Dell Engineering Services also has delivery centres in Hyderabad and Bangalore in India.
This acquisition enables L&T Technology Services to consolidate its position as preferred vendor in the $4 billion transportation engineering research & development (ER&D) market.
The acquired assets will enable L&T Technology Services to leverage the customer base and complementary capabilities of Dell Engineering Services along with L&T Technology Services’ portfolio of embedded and PLM offerings, supported by a global sales force.
Keshab Panda, chief executive of L&T Technology Services said, “Product engineering is undergoing structural shifts with evolving technologies, shorter development cycles, regulatory demands, and a shortage of skilled talent. This is a tremendous opportunity for us to have a strong local presence in North America where a majority of our clients are based. That along with Dell Engineering Services’ strong expertise in Embedded, and Mechanical Design & Analysis and a history of successful relationships in North America will help us ride the next level of growth.”
The transaction, which has been approved by the Competition Commission of India (CCI), is awaiting US regulatory approvals. The closure of transaction is expected around this quarter.
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