Mid-size Indian technology service company, Mindtree, is set to acquire the NxT Digital Business, the cloud-based IoT and AI platform for Industry 4.0 of L&T Group. The company has already signed an agreement with L&T Group in this regard.
The NxT Digital Business, founded as a startup with broad digital capabilities within L&T in recent times, has played a key role in extensive applications of IoT technology and digitalization of many aspects of L&T’s operations.
The NxT Digital has helped L&T in conducting smooth operations on the back of real-time data-driven decision-making. NxT Digital Business leverages the Group’s deep industry domain expertise with emerging technologies like industrial IoT, artificial intelligence, machine learning and augmented and virtual reality, geospatial and cybersecurity applications to deliver disruptive business outcomes for its global customers.
According to industry experts, Mindtree and NxT Digital Business’ combined offerings will bring scale and market agility to meet the growing end-to-end digital transformation demands of customers. “This will help accelerate the journey to Industry 4.0, which involves smart automation of industry and manufacturing to gain agility and customer-centricity,” a company statement said.
Mindtree also plans to leverage NxT Digital Business’ capabilities across several industry segments in integrating sensors and telemetry data with its advanced data analytics and insights leadership to drive digitization across the manufacturing and engineering value chain, deliver tangible operational efficiencies, and a differentiated customer experience.
“There is a huge opportunity ahead as global manufacturers and industrial companies are increasingly adopting Industry 4.0 focused smart solutions, systems, and processes, but are struggling to leverage data and analytics to drive efficiency and competitive advantage,” S N Subrahmanyan, Chief Executive Officer & Managing Director, Larsen & Toubro Limited.
Meanwhile, according to Debashis Chatterjee, Chief Executive Officer & Managing Director, Mindtree Limited, the latest acquisition will complement Mindtree for further strengthening and reimagining consumer experience. “It will help position us as one of the leading partners for leveraging data and analytics to drive insights and deliver transformational services to our clients,” Chatterjee said.