LTI Mindtree dreams of being a TCS. The outcome of the merger will realize or wreck the dream.
Naomi Gleit
AM Naik, group chairman, Larsen and Toubro
Synopsis
L&T Infotech and Mindtree’s merger has been announced and the market cap of the combined entity is higher than Tech Mahindra, a tier-1 IT company. The premium LTI Mindtree are enjoying hinges on continued high growth performance in FY23. But the chaos of merger, people exits, and competitive hiring atmosphere could dent ambitions.
L&T group chairman AM Naik has had a bit of a blow hot, blow cold relationship with software. About a decade and a half ago, he was railing against the “Bangalore Club”. He was furious that precious engineering talent suited for infrastructure was being lured away by software-services firms. His views have changed. L&T Infotech was founded in 1996, and some 10 years later, Naik made a noteworthy but unsuccessful attempt to acquire
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