INDIA'S Larsen & Toubro Infotech (LTI), has signed an agreement to acquire Nielsen+Partner (N+P), an independent Temenos WealthSuite specialist, headquartered in Hamburg, for €28 million.
With presence in major banking and wealth management hubs like Switzerland, Luxembourg, and Singapore, N+P also provides IT consulting, digital and software engineering services to major enterprises.
This is the fourth acquisition by LTI since the company got listed in 2016. In January 2019, the company acquired Ruletronics, LTI said today (14).
Sanjay Jalona, chief executive officer, managing director, LTI, said: “…the acquisition of N+P will help us further establish LTI as a formidable player in the fast-growing market for Temenos and help our clients navigate their digital transformation journey.”
The enterprise value payable for the acquisition of 100 per cent share capital of N+P is €28m on a cash-free, debt-free basis, which includes upfront consideration and a performance based earn-out, LTI said.
Bobby Bawa
