 "L&T Infotech announces the acquisition of Pune-based start-up AugmentIQ")
L&T Infotech (LTI) said it would acquire Luxembourg based Syncordis S.A., a leading core banking implementation services provider for 15 million euros.
LTI would acquire the firm along with its subsidiaries in France, UK, Luxembourg and India.
The mid-tier Indian IT services firm said strengths of Syncordis in Temenos, a new-age and digital core banking solution, would help them expand banking services market in the Europe.
In addition to the upfront cash consideration, 13.5 million euros may be payable over four to five years and that is contingent on the performance of the entity, said the company in a filing
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