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Information Technology

The inside story of how L&T agreed to buy VG Siddhartha's stake—and its plans for Mindtree

Updated : March 19, 2019 02:54 PM IST

The deal makes a lot of strategic sense for L&T. Its software unit, L&T Infotech, is predominantly into banking, manufacturing oil and gas and insurance fields while Mindtree is into consumer packaged goods (CPG), retail, hospitality, travel and the technology space.
Mindtree promoters are condemning the deal. The founders and promoters of the IT company have unconditionally opposed the reported hostile takeover bid by L&T as they believe the L&T deal is a “grave threat” to the organization that they have built.
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