(Image source: LTI homepage.)
Larsen & Toubro Infotech Ltd. (LTI, Mumbai), a global technology consulting and digital solutions company has signed a definitive agreement to acquire Cuelogic Technologies (Pune, India), which LTI describes as a digital engineering and outsourced product development company. Founded in 2010, Cuelogic primarily focuses on developing cloud native web and mobile applications, modernization, and runs an Innovation Lab as a service for its clients in the U.S. and India, according to an LTI statement.
LTI has identified digital engineering as a significant market opportunity and says this acquisition will provide instant access to a fast-growing business with impressive client roster, and more than 300 employees. Cuelogic works with enterprise clients on multiple facets of digitalization such as UX Consulting, DevOps, AI Consulting, IoT, Applications Modernization, Cloud Architecture & Integration. “With over 100 products successfully developed, Cuelogic helps global enterprises build and grow modern digital businesses,” the LTI statement says.
“We believe rapid productization is an essential requirement for accelerated digitalization across industries,” comments Sanjay Jalona, CEO & Managing Director, LTI. “Our clients are looking for agile solutions to compete effectively in a changing world. The digital engineering capabilities of Cuelogic Technologies combined with their tools and methodologies will help our clients innovate, launch products, accelerate time-to-market, and maintain products optimally. I welcome Cuelogic team, their customers, and partners to LTI family.”
Scaling Digital Transformation
“When Vikrant, Neel, and I cofounded Cuelogic, our goal was to bring rapid and reliable product development services to enterprises, and help them scale their digital transformation,” comments Nikhil Ambekar, CEO, Cuelogic Technologies. :Our digital expertise and unique culture have helped us build a solid foundation. As a company obsessed with engineering excellence, we find LTI to be our ideal partner for the next phase of our journey. LTI is the growth leader in the industry, and we are excited to further add strength to its formidable Digital capabilities.”
Cuelogic will be integrated with LTI’s Digital practice. The Pune-based firm is the seventh acquisition by LTI since the company got listed in 2016. Earlier acquisitions have aimed to bolster company’s expertise in data and analytics, cloud consulting, intelligent automation, and industry-specific platforms.