Mumbai (Maharashtra) [India], Feb 14 (ANI) Larsen
Toubro Infotech (LTI) on Thursday announced that it has signed a definitive agreement to acquire Hamburg-based NielsenPartner (NP), an independent Temenos WealthSuite specialist.
NP is a leading partner of Temenos in Europe and Asia Pacific providing IT consulting, digital and software engineering services to major enterprises.
This acquisition is synergistic to Syncordis acquisition that LTI announced in 2017. Syncordis is a leading Temenos T24 Core Banking Platform specialist with widespread presence in Europe, whereas NP has built comprehensive expertise in the front office of Temenos WealthSuite.
Together with Syncordis, NP strengthens LTI
's capabilities as a global expert of Temenos suite of products and enriches company's offerings to banking clients. Upon integration, NP's Temenos business will be consolidated under the brand of Syncordis, while software engineering business will operate and expand as part of LTI Germany.
Sanjay Jalona, LTI Chief Executive Officer and Managing Director, said: "The acquisition of NP will help us further establish LTI as a formidable player in the fast-growing market for Temenos and help our clients navigate their digital transformation journey.
This is the fourth acquisition by LTI since the company got listed in 2016. In January 2019, the company acquired Ruletronics, a boutique Pega Consulting company.