Mindtree buys NxT Digital for Rs 200 crore from L&T

BENGALURU: Mindtree said it is buying NxT Digital Business, the cloud-based IoT and AI platform of L&T Group, for about Rs 200 crore to help it penetrate the industrial automation sector. L&T is the parent company of Mindtree.

NxT Digital was started with broad digital capabilities within L&T and is said to have played a vital role in applications of IoT technology and digitalisation of many aspects of L&T’s operations. NxT works in areas of industrial IoT, AI, ML, augmented and virtual reality, geospatial and cybersecurity applications. “Industrial and manufacturing companies are starting to adopt digital technologies across the value chain, but need a partner with expertise to strategically connect the dots and generate business value from their data,” said Debashis Chatterjee, CEO of Mindtree.