Engineering major Larsen & Toubro today said it acquired UK-based Thalest, which offers various solutions for naval and mercantile marine ships, for an undisclosed sum.
"The electrical and automation business of L&T yesterday completed the share sale agreement formalities for the acquisition of Thalest Ltd," the company said in a BSE filing.
Thalest offers integrated platform management system (IPMS) and integrated bridge system (IBS) solutions for naval and mercantile marine ships. It is the holding company of Servowatch Systems and Bond Instrumentation & Process Control Ltd and Servowatch Inc (USA).
"We are approved as an IPMS and IBS supplier for the Indian Navy together with Servowatch. Thalest/Servowatch's deep understanding of the control and automation space will open new vistas in other markets and segments," S C Bhargava, Senior Vice President and Head - L&T Electrical & Automation, said.
Servowatch is a leading supplier of advanced integrated ship control systems including alarm and monitoring, automation, platform management and bridge and navigation into both new-build and retro-fit makers.
Shares of L&T were trading at Rs 1,344.55 apiece, down about 1% over their previous close at BSE.