L&T Infotech to acquire Bangalore based  Powerupcloud for USD 15 ml

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Mumbai  : Larsen & Toubro InfoTech Ltd. On Thursday announced that it would acquire 100% shares of Bangaluru based cloud consulting firm Powerupcloud Technologies Pvt. Ltd for USD 15 million.

Powerup has 180 employees and is serving clients across India, Singapore, UAE and USA in sectors like cloud consulting, artificial intelligence and data analytics professionals to LTI. In 2018-19 financial year the company has a revenue of USD 3.5 million.

Founded in 2015, Powerup is a born-in-the-cloud, Premier Consulting Partner of AWS. It is the only AWS certified partner in APAC to have both Data & Analytics Competency and Machine Learning Competency, and one of the few certified partners of AWS with competencies across Migration, DevOps, Financial Services, Well-Architected, and Security & Compliance. With expertise across cloud, big data, artificial intelligence, and product engineering, Powerup is also a Gold Partner of Microsoft Azure and a Cloud Consulting Partner of Google Cloud Platform. Powerup has executed over 150 projects in cloud transformation. Powerup would add two AI-based platforms to LTI’s powerful suite of offerings.

Powerup is the sixth acquisition by LTI since the company got listed in 2016 and fourth in this calendar year. Earlier in 2019, LTI acquired Ruletronics, a boutique Pega Consulting company, N+P (NEILSEN+PARTNER), a Temenos Wealthsuite specialist, and Lymbyc, an advanced analytics company.

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