L&T Technology to acquire Orchestra Tech for $25mn

L&T Technology to acquire Orchestra Tech for $25mn
L&T Technology to acquire Orchestra Tech for $25mn

This acquisition will enable L&T Technology Services to strengthen its footprint in the telecom OEM and service provider space.

IT company L&T Technology Services signed a share purchase agreement to fully acquire Texas based Orchestra Technology for $25 million.

This acquisition will enable L&T Technology to strengthen its footprint in the telecom OEM and service provider space. Orchestra will help bolster L&T Technology investments as part of open network forums ONF and TIP across key elements of 5G like ORAN, private networks, narrow band IOT, the Mumbai based IT firm said in a filling with stock exchanges.

The acquisition will take place in two tranches. The IT firm will provide an upfront payment of $11 million, with the remaining $14 million will be paid in the form of earn-outs and retention pay over three years.

“Orchestra′s capability in enabling OEMs and service providers to manage and optimise network performance will form a key differentiator as 5G rollouts take off across geographies,” L&T Technology said in its filing.

L&T Technology said the deal is expected to close by the end of this year.

Related Stories

No stories found.

Podcast

No stories found.

Defence bulletin

No stories found.

The power of the quad

No stories found.

Videos

No stories found.

Women Leaders

No stories found.
India Global Business
www.indiaglobalbusiness.com