L&T Infotech to acquire Ruletronics
Larsen & Toubro Infotech entered into a definitive agreement to acquire Ruletronics Limited (UK), Ruletronics Systems Inc. (US) and Ruletronics Systems Private Limited (India). These entities are collectively christened Ruletronics.
L&T Infotech will have to fork over US$7.48 million for the acquisition of 100 per cent share capital of Ruletronics, including upfront consideration and earn-outs. The entire consideration amount shall be paid in cash. The acquisition is expected to be concluded within 8 weeks.
Ruletronics will strengthen L&T Infotech’s steadily digital growing business using a multitude of capabilities in Pega implementation in establishing BPM Roadmap & Strategy, Customer Services, RPA and Decisioning.
Ruletronics is a boutique Pega consulting company catering to customers in banking, insurance, healthcare and retail sector. The company's total revenue for FY18 was around US$ 3.35 million. It offers unique product-based offerings for Disability Claims management, KYC Bulk Remediation, and Insurance Sales & Service applications.
L&T Infotech is a global technology consulting and digital solution company with operations spanning across 30 countries.
On Thursday, the shares of L&T Infotech opened at Rs. 1,772.05, and hit a high and low of Rs. 1,797.75 and Rs. 1,768.90, respectively. At 12:00 pm, the stock was trading at Rs. 1,793.30 per share, up 1.42 per cent.