L&T Infotech completes acquisition of ISRC
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With an aim to enhance focus on core business, L&T Infotech, provider of IT services and solutions, and a wholly-owned subsidiary of the $14.3 billion Larsen & Toubro (L&T), has completed the acquisition of Information Systems Resource Centre. Financial details of the deal were not disclosed.
Information Systems Resource Centre (ISRC) was a subsidiary of Otis Elevator, which is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp.
V K Magapu, managing director, L&T Infotech said, “As a major IT supplier, L&T Infotech plans to leverage the technology capability and experience of ISRC in order to enhance its value-add to UTC.”
L&T Infotech has two key vendor facilities in Mumbai serving UTC Building & Industrial Systems, as well as a team of professionals serving various divisions of UTC.
Omar Fathi, Vice President, Information Technology, UTC Building & Industrial Systems said, “This allows UTC Building & Industrial Systems’ IT organization to focus on supporting the company’s core businesses while allowing ISRC and its employees to grow and serve its customers under the new ownership.”
L&T Infotech is comprised of 20,000 IT professional across the globe. This acquisition will bring a number of learning and career growth opportunities for the ISRC employees including opportunities for technical skill enhancement and exposure to new technologies.
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