Larsen & Toubro Ltd might acquire Spectrum InfoTech

Larsen & Toubro Ltd might acquire Spectrum InfoTech

The latest news coming in says that Larsen & Toubro Ltd is reportedly interested in buying out Spectrum InfoTech Pvt. Ltd. Spectrum is a Bangalore based aerospace and defense electronics research and development company and the value of the deal is still unspecified by the companies involved.

L&T informed the stock exchanges of this decision to acquire the IT firm specializing in developing software and hardware for embedded computation, control, and signal processing. As per incoming reports, Spectrum is currently working on designing and developing prototype sub-systems and units.

If the deal goes through, it would help the engineering and construction giant strengthen its leadership position in the area of defense electronics and avionics. Some of the clients of Spectrum includes defense research and development laboratories, aeronautical development agency, combat vehicles development establishment, instrument research and development establishment, Naval Science & Technological Laboratory, Defense Bio-Engineering and Electro Medical Laboratory.

As per media reports, Ashok Leyland was also interested in taking over Spectrum though it looks like L&T has their basics covered and have taken the lead.