LTI to Acquire Germany Based NIELSEN+PARTNER

Larsen & Toubro InfotechLarsen & Toubro lnfotech GmbH, Germany, has signed a definitive agreement today to acquire Nielsen+Partner Unternehmensberater GmbH headquartered in Hamburg, Germany along with its identified subsidiaries in Luxembourg, Switzerland, Thailand, Singapore and Australia and branch office in Belgium.

The acquisition is subject to customary closing conditions which are expected to get completed within 6 weeks. The Company will inform the closure of the transaction to the Stock Exchanges in the due course.

Details of the Target Entity

NIELSEN+PARTNER is a Hamburg based global implementation specialist for the Temenos WealthSuite (Front Office/ Channels I TDS) with an approved Temenos partner status both for EMEA and APAC Regions. With a total headcount of 98, they have offices in Germany (HQ), Switzerland, Singapore, Luxembourg, Belgium, Australia and Thailand.

Objects and effects of acquisition

Acquisition of NIELSEN+PARTNER will strengthen Company’s Temenos capability making the Company one of the leading end-to end Temenos players. Integrating the target company’s capabilities with the Company’s existing T24 capabilities will strengthen its position amongst Temenos implementation partners globally.

Brief background about NIELSEN+PARTNER

• Incorporated in 1995, NIELSEN+PARTNER is a Hamburg based global implementation specialist for the Temenos Wealth Suite {Front Office/ Channels/ TDS) with an approved Temenos partner status both for EMEA and APAC. The Target Company has its presence in Germany (HQ), Switzerland, Singapore, Luxembourg Belgium, Australia and Thailand.

The revenue for past three financial years were:
FY 2018: USD 9.9 Million
FY 2017: USO 6.7 Million
FY 2016: USD 7.2 Million

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