According to the transaction is expected to be closed on or before March 31, subject to satisfaction of conditions precedent identified under the agreement.
SWC was founded in 2016 to cater to the demands, address opportunities and provide smart solutions in the areas of end-to-end communications, city surveillance and intelligent traffic management system for the government as well as enterprises. The 700 engineers from diversified technology domains and has annual revenue of ₹1,098 crore. '' rating on the stock as it believes that the transition of SWC's domestic business to global clientele profile will weigh on sentiment.10:25 IST, the shares of the company were trading at high volume of 556.8K with price loss of 6.06.
stock has fallen 39.95% from week high of 5,715.4 recorded on. The company's weekly average delivery volume is 27.21%.
“After a gap down we are witnessing selloff and huge volumes are as well seen, as of now traders should avoid catching falling knife as further weakness can be expected, 3300 is next support whereas 3,480 - 3,500 level is immediate resistance,” said Rajesh - Equity Technical and Derivative Analyst, Angel One.
Larsen & Limited (L&T), announced on January 12 an agreement to acquire the parent company's Smart World & Communication (SWC) business, which was founded in 2016 to cater to the demands, smart utilities, and digital infrastructure.
SWC's business will be acquired for Rs 800 crore, its statement said. The acquisition will be completed in three months, subject to satisfaction of conditions precedent identified under the agreement.
to LTTS, SWC business generated Rs 1,098 crore in annual revenue for FY 2021-22.
SWC is an intelligence solution provider operating in three segments – communications, safe & smart solutions, and cybersecurity. LTTS said this acquisition will allow it to combine synergies and bring next-gen communications, sustainable spaces, and cybersecurity offerings to the global market.
LTTS and SWC believe that by working together, they will be in a better position to continue to win and execute large-scale 5G transformational in India and around the world.
, S N Subrahmanyan, Chief Executive Officer & Managing Director, Larsen & Limited said, Smart World & Communication has created a niche for itself in the communications and smart domain across developing markets. By combining with a global engineering services player like LTTS, its offerings across next-gen networks, smart spaces, and cybersecurity will help unlock new synergies across the technology spectrum.
Services today announced that it has agreed to acquire the Smart World & Communication (SWC) Business of L&T, enabling LTTS to combine synergies and take offerings in Next-Gen Communications, Sustainable Spaces and Cybersecurity to the global market.&
Communication was founded in 2016 to cater to the demands in smart cities, address opportunities and provide smart solutions in the areas of end-to-end communications, city surveillance and intelligent traffic management system for the Government as well as enterprises. It has an employee base of over 700 engineers from diversified technology domains and has crossed an annual revenue of Rs 1,000 crores.
LTTS and SWC teams will address the entire gamut of digital offerings including design, architect, build & operate, effectively catering to the portfolios encompassing Communications, Sustainable Spaces and Cybersecurity.
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