Biznextindia : Engineering and Technology conglomerate Larsen& Toubro (L&T) on Tuesday announced that its wholly owned subsidiary Larsen & Toubro International FZE (LTIFZE ) has entered into a share purchase agreement to purchase stake in USA based Intelliflux Controls INC., a Delaware Corporation.
As per the agreement, LTIFZE will acquire 21,88,569 shares at USD 2 million.
Intelliflux Controls is an integrated water analytics platform that uses Al/ ML to optimize plant performance. The acquisition will provide L&T improved analytics and design capabilities for WTP/STP.
Carved out of Water Planet Inc, Intelliflux controls deploys sensors, Al/ ML models for plant O&M. Head Quartered in Irvine, California, present in US, turnover — Less than $ 1 Mn.