Mega merger: LTIMindtree to join the big league with scale and ambition

L&T Infotech-Mindtree merger announced; combined entity be able to tap into $100 mn+ deals, says Naik

Larsen & Toubro (L&T) on Friday announced the merger of its two listed IT services companies – L&T Infotech (LTI) and Mindtree – and the process is expected to complete by the end of the current financial year. The merged entity, to be called LTIMindtree, will have a stronger potential to access large deals and compete with scale players, said top executives of L&T.

In terms of revenue and profit, LTIMindtree will be the sixth-largest IT player in the country, after TCS, Infosys, HCL Technologies, Wipro, and Tech Mahindra.

A M Naik, group chairman, L&T, said the merger would bring