Mumbai, India and Stockholm, 4 Nov - L&T Technology Services a wholly owned subsidiary of Engineering major, Larsen & Toubro announced today that it has partnered with Europe based telecom operator Tele2 to jointly develop solutions around Machine-to-Machine (M2M) and Internet of Things (IoT).
The alliance will help L&T Technology Services’ and Tele2’s customers implement solutions that will reduce their time-to-market. The concept of connected world is moving beyond cost and time advantage and today it’s about enhanced user experience coupled with the need for driving efficiency in operations as well as the cost of development and operations, it added.
This partnership between L&T Technology Services an engineering services major with its deep domain expertise in the Transportation sector and Tele2, with its proven credentials as the foremost provider of convergent communication services, holds a great potential for the transportation market. Remote management of engine performance, Data collection and Analytics of vital parameters from Off Highway Vehicles, Engines and Coaches will help OEMs, Operators and Consumers in significantly improving operational efficiencies, Improving warranty and service management and better the enduser experience.
This partnership will initially target the transportation and commercial, mass transit vertical (which includes Auto, Aero, Rail, Shipping and Off Highway and specialized vehicles) and all associated ancillary and similar industries .
Dr Keshab Panda, Chief Executive, L&T Technology Services commenting on this partnership said, “We are very excited to collaborate with Tele2 on providing IoT/M2M solution to the transportation and mass transit industry that benefit customers. Our engineering prowess and deep infrastructure understanding and expertise coupled with Tele2’s solutions will provide an excellent opportunity to improve customer services and create a safer and more connected customer experience.
Rami Avidan, Head of Tele2 M2M Global Solutions, comments: “I am really excited about the partnership with L&T Technology Services and to see how our different expertise can influence the transportation industry to become even more efficient and cost conscious with new business models”
About Tele 2
TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS PROVIDING CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 14 million customers in 9 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2013, we had net sales of SEK 30 billion and reported an operating profit (EBITDA) of SEK 6 billion.
About Larsen & Toubro
Larsen & Toubro is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide. A strong, customer-focused approach and the constant quest for topclass quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as of September 30, 2019.
For additional information about L&T Technology Services, log on to www.LTTS.com.