Mumbai : The Board of Directors of L&T Technology Services Limited (LTTS/ the Company) at its meeting held on October 19, 2021has approved the scheme of amalgamation of three wholly owned subsidiaries with the Company Esencia Technologies India Private Limited (Esencia), Graphene Semiconductor Services Private Limited (Graphene), Seastar Labs Private Limited (Seastar).
The Transferor Companies and the Transferee Company are collectively operating in the business of providing Engineering Research & Development solutions to its customers in same geographies with similar profiles and can be conveniently combined and managed by the Transferee Company for leveraging superior delivery to customers and financial capability of the Transferee Company for mutual benefit. The proposed Scheme will also stabilize the operating cost of entities and result in synergies, efficient utilization of capabilities and resources.
Incorporated in 2011, Esencia is inter-alia engaged in the business of all IT/telecom related technologies/solutions like software and hardware development, services, consultancy, implementation and maintenance, networking, Data Processing, Infrastructure Solutions, Storage solutions, E-Commerce solutions, internet related technologies.
Graphene is inter-alia engaged in the business of manufacturing, processing, converting, repairing, servicing, buying, selling, importing, exporting, trading and dealing in Semiconductors, electronic components including Capacitors of all types, inputs required for Semiconductors, Assemblies, Radios, Television sets, Tape recorders, Loud Speakers, Record players, Stereophonic Equipment’s and Assemblies, Computers both Digitals and Analogues, Microwave Equipment’s and Communication Equipment’s and Components of all sorts. Graphene is also engaged in the business of end to end semiconductor services and solution, expertise in complete VLSI Chip Design & Embedded Software.
Seastar is mostly engaged in the business of exporters, importers, servicing, consulting, developing, designing, sales and marketing, trading, selling, distributing and licensing computer software and hardware of any description, particularly those used in or in connections with electronic data processing equipment, computers, micro processor based systems and providing software, hardware, programmes, data processing and consultancy services, computer software and hardware programmes.