L&T Technology Services (LTTS), the engineering services arm of Larsen & Toubro, said it has signed an agreement to acquire US-based design services provider Esencia Technologies Inc.
The company will pay $27 million (nearly Rs 180 crore) to acquire the California-headquartered firm and $15 million ( Rs 100 crore) will be paid upfront. "The rest will be paid over a period of four years," said Keshab Panda, chief executive officer and managing director, LTTS.