Indian technology consulting and digital solutions company Larsen & Toubro Infotech Ltd., a subsidiary of construction engineering company Larsen & Toubro Ltd., has agreed to purchase German peer Nielsen+Partner Unternehmensberater GmbH.
The purchase, valued at an enterprise value of 28 million euros ($31.5 million) in cash, will bolster Larsen & Toubro Infotech's capabilities in the banking and financial services software segment.
The deal is subject to customary closing conditions which are anticipated to be finalized within six weeks.
Last month, Larsen & Toubro Infotech had agreed to purchase Indian information technology consulting company Ruletronics Systems for $7.48 million.