LTTS signs five-year deal with Nokia, to set up offshore development centre in India

L&T Technology Services (LTTS), a subsidiary of Larsen & Toubro (L&T), has signed a five-year agreement with Nokia. The deal is for working together on engineering and R&D in India. L&T said the partnership will bring together LTTS's engineering strength and Nokia's work in telecommunications technology.

Under the agreement, LTTS will support Nokia's research and development programmes in areas such as product engineering, software development, system integration and product support.

LTTS shares jumped after the partnership was announced and crossed the Rs 4,000 mark. At 10 am, the stock was trading on the BSE at Rs 4,041.80, up Rs 131.50 or 3.36 per cent. It had closed at Rs 3,910 on Friday.

Under the partnership, LTTS will build a dedicated offshore development centre in India to support Nokia's engineering and R&D initiatives. The centre fits LTTS's "Lakshya 31" strategy and the company's focus on next-generation compute and AI infrastructure.

LTTS will also build a dedicated engineering team in India to support Nokia's technology centres around the world. The work will cover areas such as 5G networks, intelligent automation, AI-enabled operations and AI infrastructure.

LTTS will work closely with Nokia's global R&D teams through an integrated operating model. The collaboration will include research and development, product engineering, new product development, embedded systems, software development, system integration and ongoing support.

Vivek Jaiswal, senior vice president for engineering at Nokia, said that as a leader in AI infrastructure, Nokia's continued investment in research and development will prove important. He added that India is a key innovation centre for Nokia and that LTTS is seen as a valued partner.