Mumbai, India / San Jose, Ca -- December 13, 2006
-- Larsen & Toubro Infotech Limited, a leading IT consulting and services organization, and a 100% subsidiary of the Larsen & Toubro Group, today announced that they have signed a definitive agreement to acquire GDA Technologies, Inc., and all of its design centers in US and India.
GDA, a privately held electronic design firm based out of California, USA is one of the fastest growing companies in the Silicon Valley. It has over 350 employees between US and India design centers and over 100 customers in US, Japan and India. GDA offers end-to-end design solutions in semiconductor product development from IP licensing, Logic design & physical implementation for advanced process technologies. This is complemented by its portfolio of embedded hardware and software development capabilities provide GDA customers with complete solution.
Commenting on the acquisition, Mr. A M Naik, Chairman and Managing Director, L&T said, “GDA’s electronic design capabilities are a key building block in our roadmap towards creating end-to-end solution delivery capability for our global customer base. Such acquisitions form an integral part of our ambition to create a billion dollar business in IT consulting and services space.”
“This very strategic acquisition of GDA Technologies will help us deliver a broad set of chip design and product realization services to our global customers, thereby complementing our capabilities in the IT services space.” said Mr. Vijay Kumar Magapu, Chief Executive Officer, L&T Infotech; Whole-time Director and Member of the Board, L&T which is the parent of L&T Infotech.
GDA will operate as a subsidiary of L&T Infotech and has immediate plans to accelerate all the current lines of business. All the three GDA founders, A G Karunakaran, Gopa Periyadan and Ravi Thummarukudy will join the L&T Infotech management team and will help drive the Product Engineering Service Business to the next level. “This agreement enables us to scale the business to the next level with the strong process capabilities, infrastructure and investment support from L&T Infotech. This highly synergistic combination of GDA's board and chip level complex engineering expertise and L&T Infotech's middleware and higher-layer software services provide our customers with complete solution,” said A.G. Karunakaran, President of GDA Technologies.About L&T Infotech
L&T Infotech (http://www.lntinfotech.com/
) is a 100% subsidiary of L&T and offers IT/ITES services to global clients in domains such as Communications and Embedded Systems, Manufacturing, Energy & Petrochemicals, Banking and Finance, and Insurance. The company has revenues of over USD 200 million and 7000+ employees. The company is CMMI Level 5, PCMM Level 5, ISO 9001:2000, BS7799 certified and has offices in India, USA, Canada, Denmark, France, Germany, Gulf, Japan, Korea, & UKAbout GDA Technologies, Inc.
GDA Technologies Inc. is a leading Electronic Design Services and Silicon Intellectual Property solution provider for the embedded, networking, and consumer electronics markets. Founded in 1996, San Jose, California-based GDA Technologies has grown into a worldwide organization with seven development centers in North America and Asia. GDA focuses on designing IC and board level products from concept to implementation and catering to OEMs and Semiconductor companies by providing design technology services in the areas of SoC/ASIC, FPGA, Board, Embedded Software, and Systems Level Design. For more information about GDA Technologies Inc., please visit www.gdatech.com