### LTTS Expands Silicon Valley Presence with Intelliswift Acquisition

Bangalore, India / San Francisco, California, USA - L&T Technology Services Limited (LTTS), a key player in global engineering and technology services, has announced a definitive agreement to acquire the California-based company, Intelliswift. This strategic move is designed to strengthen LTTS' portfolio in software product development, platform engineering, digital integration, data, and artificial intelligence (AI).

Intelliswift is renowned for serving four of the top five hyperscalers and more than 25 Fortune 500 companies, including five out of the top ten engineering, research, and development (ER&D) spenders in software and technology. With this acquisition, LTTS aims to tap into adjacent markets such as retail, fintech, and the private equity sector.

The acquisition will notably boost LTTS’ AI and software capabilities. LTTS plans to leverage Intelliswift's industry-leading software product development, data, and platform engineering expertise. Additionally, Intelliswift's AI-led automation framework is set to provide comprehensive automation solutions across various platforms and processes, thus enhancing LTTS' digital enterprise and integration services.

Amit Chadha, CEO and Managing Director of LTTS, stated, "Software and AI are becoming essential for our clients seeking to bring new products and differentiated solutions to consumers. The acquisition of Intelliswift strengthens our digital and software product engineering capabilities, expands strategic client partnerships with major technology spenders, boosts our presence in Silicon Valley, and advances us towards our USD 2 billion medium-term goal. We warmly welcome the Intelliswift team to our LTTS family, to join us in our journey of 'Purposeful. Agile. Innovation' with inclusive growth."

Pat Patel, the Founder and Executive Chairman of Intelliswift, remarked, "Joining forces with a prominent Engineering & R&D services leader like LTTS is a strategic step forward for Intelliswift. Together, we aim to become the leading technology partner for major hyperscalers and companies worldwide that depend on us for business-critical products and platforms, significantly enhancing our digital offerings. Our customers will benefit from innovative advancements throughout the software and digital platform lifecycle."

About L&T Technology Services Ltd
L&T Technology Services (LTTS) is acclaimed globally for its engineering and technology services. As a listed subsidiary of Larsen & Toubro (L&T), LTTS provides a comprehensive range of services including design, development, testing, and sustenance across products and processes. Their growth strategy, encapsulated in the mantra "Purposeful. Agile. Innovation," drives their endeavors across mobility, sustainability, and tech segments.

As of September 30, 2024, LTTS has a customer base that includes 69 Fortune 500 companies and 57 top ER&D companies, spanning sectors such as industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Headquartered in India, the company boasts over 23,700 employees spread across 22 global design centers, 30 global sales offices, and 108 innovation labs.