L&T buys defence electronics firm Spectrum

Larsen & Toubro (L&T) has signed a memorandum of understanding for acquiring 100% shareholding of Spectrum Infotech, a Bangalore-based, defence electronics and aerospace R&D company.

No financial details were mentioned in the release issued by L&T to the BSE today.

"The acquisition will be managed under the company's newly launched Strategic Electronics Centre in Bangalore, which is focusing on defence electronics, avionics, and aerospace solutions," the release added.

Founded in 1995, Spectrum Infotech focuses on technology and product development in embedded computation, control and signal processing. It is currently engaged in design and development of prototype sub-systems and units.

"The client list includes defence research & development laboratories and defence public sector units including Aeronautical Development Agency, combat vehicles R&D establishment, instrument R&D establishment, research centre Imarat, Naval Science & Technological Laboratory, Defence Bio-Engineering and Electro-Medical Laboratory, Bharat Electronics and Hindustan Aeronautics," the release added.