Larsen & Toubro Infotech
 | |
| Public | |
| Traded as | NSE: LTI |
| Industry | IT services and IT consulting[1] |
| Founded | 1 April 1997 |
| Headquarters | Mumbai, Maharashtra, India |
Key people | Sanjay Jalona (CEO & MD), Aftab Zaid Ullah (COO), A. M. Naik (Non-Executive Chairman). |
| Services | Digital & Automation Solutions, IT service management, IT consulting |
| Revenue | US$ 970 million+ (March 2017)[2][3] |
Number of employees | 21,000+ (March 2017)[4] |
| Parent | Larsen & Toubro |
| Website | lntinfotech.com |
Larsen & Toubro Infotech (LTI), a subsidiary of Larsen & Toubro,[5] is a global IT solutions & services company based in Mumbai, India.[6] LTI is ranked number 6[7] in India IT companies in 2013–2014. The company has 39 registered offices in 27 countries.[6] It employs standards of the Software Engineering Institute's (SEI) Capability Maturity Model Integration (CMMI) and is a Maturity Level 5 assessed organisation.[8] Sanjay Jalona is the new MD & CEO of LTI[9]
History
Founded as L&T Information Technology Ltd (Read as L&T-IT), a completely owned subsidiary of Larsen & Toubro Ltd (L&T).[5] The company changed its name to LTI on 4th May 2017.In December 2006, LTI acquired GDA Technologies (a privately held electronic design firm based in California, United States) and all of its design centres in India and USA. Sanjay Jalona[10] is the CEO & Managing Director at LTI.
Acquisitions
| Name | Acquisition Month & Year | Activities | Country of HQ | Reference |
|---|---|---|---|---|
| GDA Technologies | December 2006 | Electronic Design Services (EDS) and silicon intellectual property (SIP) solution provider for the Embedded, Networking, and Consumer Electronics Market | United States | [11] |
| Citigroup Fund Services Canada Inc | January 2011 | Captive technology centre of Citigroup Fund Services Canada | Canada | [12] |
| Information Systems Resource Centre Pvt Ltd(ISRC) | October 2014 | UTC Building & Industrial Systems | United States | [13] |
| AugmentIQ Data Sciences Pvt. Ltd | October 2016 | Big Data, Analytics Solution and Internet of things | India | [14] |
Location of offices
LTI has its presence across the following regions:[6]
- Mumbai - (Powai, Airoli, Mahape).
- Pune - (Shivajinagar, Pune, Hinjewadi, Yerwada).
- Bangalore/Bengaluru - (Whitefield).
- Chennai - (Manapakkam).
- North America: United States & Canada.
- Europe: England, Germany, Denmark, France, Sweden, Norway, Finland, Belgium, Ireland, Netherlands, Poland, Austria, Spain.
- Middle East: Kuwait, United Arab Emirates, Saudi Arabia, Qatar, Oman.
- South America: Costa Rica
- Africa: South Africa
- Asia Pacific: Australia, New Zealand, Japan, Korea, Singapore, Philippines, China.[15]
Subsidiaries
| Name | Location |
|---|---|
| Larsen & Toubro Infotech GmbH | Germany |
| Larsen & Toubro Infotech Canada[16] | Canada |
| GDA Technologies Inc | United States |
| GDA Technologies Limited | United States |
| Larsen & Toubro Infotech LLC | United States |
Awards and recognitions
- In March 2017,LTI Ranked Amongst 'Super 50' in Dalal Street Investment Journal (DSIJ) 150 Wealth-Creators List.
- In March 2017,LTI Named a Top 15 Sourcing Service Provider by Information Services Group (ISG).
- In March 2016,LTI positioned among Everest Group's Top 20 IT Services Providers.
- In February 2016,Our Group Executive Chairman Mr. A.M. Naik was awarded an Honorary Doctorate of Letters Degree from the Veer Narmad South Gujarat University. The doctorate is in recognition of Mr. Naik’s long and distinctive contribution to the nation to society.
- In December 2015,LTI Named as one of the ‘Star Performers’ and ‘Major Contenders’ in Everest Group’s PEAK MatrixTM Assessment 2015 for Global Insurance Service Provider
- In 2014,LTI ranked number 6[17] in India IT companies in 2013–2014,2014-2015 and 2015-2016 by NASSCOM rating.
Controversy
On 30 May 2016 a massive hunger strike took place in Chennai's IT Corridor on unethical practices of LTI Management to revoke offer letter of 1500+ recruits after waiting for a period of 18 months.[18][19][20][21] On 31 May representatives from knowledge professional forum and affected recruit along with Rajya Sabha MP T. K. Rangarajan meet Tamil Nadu IT minister Dr. Manigandan gave a grievance letter on this issue.[22] On July 11,Over 30 students along with Knowledge professional forum conducted a token protest against unethical L&T Infotech management in front of Chennai l&t infotech office with the slogans 'Boycott L&T Infotech IPO',' We want justice', 'Anti development is L&T Infotech' and 'Anti-National is L&T Infotech'.[23]
See also
References
- ↑ "Larsen & Toubro Infotech Limited: Private Company Information - BusinessWeek". Investing.businessweek.com. Retrieved 11 July 2012.
- ↑ "Sudip Banerjee, CEO, L&T Infotech". Retrieved 11 July 2012.
- ↑ "Now, L&T jumps into Hexaware race to reboot Infotech". Business Standard India. Retrieved 11 July 2012.
- ↑ "Earnings Release & Fact Sheet Third Quarter, Fiscal 2017" (PDF). www.lntinfotech.com. Retrieved 19 March 2017.
- 1 2 "Sanjay Jalona CEO & MD of LTI". www.lntinfotech.com. L&T Infotech. Retrieved 2016. Check date values in:
|access-date=(help) - 1 2 3 "LTI Locations". LTI. Retrieved 6 April 2015.
- ↑ "Nasscom Industry Ranking". NASSCOMM. Retrieved 9 July 2012.
- ↑ "expresscomputeronline". 1 April 2002. Retrieved 25 November 2012.
- ↑ "L&T Subsidiaries". L&T. L&T. Retrieved 9 July 2012.
- ↑ Jalona, Sanjay. "Sanjay Jalona - CEO & MD". CEO & MD at LTI. Retrieved 11 February 2016 – via times of india.
- ↑ http://www.business-standard.com/article/companies/l-t-infotech-acquires-us-based-gda-tech-106121401006_1.html. Missing or empty
|title=(help) - ↑ Shivani Shinde (1 February 2011). "L&T Infotech acquires Citigroup's Canadian IT unit". Retrieved 6 August 2015.
- ↑ BS Reporter (28 October 2014). "L&T Infotech completes acquisition of ISRC". Retrieved 6 August 2015.
- ↑ http://www.business-standard.com/article/companies/l-t-infotech-announces-the-acquisition-of-pune-based-startup-augmentiq-116102501039_1.html. Missing or empty
|title=(help) - ↑ "Global Footprint | LTI". www.lntinfotech.com. Retrieved 11 February 2016.
- ↑ https://www.lntinfotech.com/financialservices/Pages/FSTI.aspx. Missing or empty
|title=(help) - ↑ "Nasscom Industry Ranking". NASSCOMM. Retrieved 9 July 2012.
- ↑ "Business Line".
- ↑ "Business standard". 31 May 2016.
- ↑ "Times Of India". 30 May 2016.
- ↑ "Financial Express".
- ↑ "New Indian Express".
- ↑ "NewIndianExpress".