Larsen & Toubro Infotech has completed the acquisition of 100% shareholding of Ruletronics Systems, India (Ruletronics India), Ruletronics, UK (Ruletronics UK) and Ruletronics Systems Inc, US (Ruletronics US) by itself and through its wholly owned subsidiary Larsen & Toubro Infotech GmbH, Germany.

With this acquisition Ruletronics India is now wholly owned subsidiary of the Company, and Ruletronics UK and Ruletronics US are now wholly owned step-down subsidiaries of the Company.

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Larsen & Toubro Infotech announced that its subsidiary, Larsen & Toubro Infotech GmbH, Germany, has signed a definitive agreement 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.

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.

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Net profit of Larsen & Toubro Infotech rose 32.83% to Rs 375.50 crore in the quarter ended December 2018 as against Rs 282.70 crore during the previous quarter ended December 2017. Sales rose 31.27% to Rs 2472.90 crore in the quarter ended December 2018 as against Rs 1883.80 crore during the previous quarter ended December 2017.

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The announcement was made during market hours today, 17 January 2019.

Meanwhile, the BSE Sensex was up 102.76 points, or 0.28%, to 36,424.05

On the BSE, so far 4,492 shares were traded in the counter, compared with average daily volumes of 12,000 shares in the past two weeks. The stock had hit a high of Rs 1,794.90 and a low of Rs 1,768.90 so far during the day.

Ruletronics enables businesses to transform and evolve digitally by providing innovative BPM and CRM solutions leveraging Pega Platform. The company offers unique product based offerings for Disability Claims management, KYC Bulk Remediation, and Insurance Sales & Service applications.

The acquisition will strengthen Larsen & Toubro Infotech's rapidly growing digital business with a suite of capabilities in Pega implementation space around establishing BPM Roadmap & Strategy, Customer Services, RPA and Decisioning

Larsen & Toubro Infotech is a global technology consulting and digital solutions company.

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