Warren-based technology consulting firm Mindtree signed an agreement to acquire NxT Digital Business, the cloud-based IoT and AI platform of India-based L&T Group.
NxT Digital Business was founded as a startup with broad digital capabilities within L&T and has played an instrumental role in extensive applications of IoT technology and digitalization of many aspects of L&T’s operations, according to the company.
NxT Digital Business connected numerous assets and digitized factories, driving the company’s operations based on data.
Together, Mindtree and NxT Digital Business will bring scale and market agility to meet the growing end-to-end digital transformation demands of customers, according to a May 20 announcement. This will help accelerate the journey to “Industry 4.0:” The smart automation of industry and manufacturing to gain agility and customer-centricity.
Mindtree plans to leverage NxT Digital Business’ capabilities across several industry segments, integrating sensors and telemetry data with its own data analytics and insights leadership to drive digitization across the manufacturing and engineering value chain, and to deliver tangible operational efficiencies and a differentiated customer experience.
“Industrial and manufacturing companies are starting to adopt digital technologies across the value chain, but need a partner with expertise to strategically connect the dots and generate business value from their data,” said Mindtree Chief Executive Officer Debashis Chatterjee in a prepared statement. “The acquisition will complement our significant strengths in reimagining consumer experience, positioning us as one of the leading partners for leveraging data and analytics to drive insights and deliver transformational services to our clients.”
The acquisition is subject to customary closing conditions. Financial terms were not disclosed.
