L&T Infotech Signs MoU with Dassault Systemes

Larsen & Toubro Ltd (L&T) has announced that Larsen & Toubro Infotech Ltd (L&T Infotech), one of the fastest growing IT consulting and services organizations, and a wholly-owned subsidiary of USD 4.5 billion plus the Company, have signed on February 15, 2007, a Memorandum of Understanding (MoU) with Dassault Systèmes (DS), which has head offices in France.

The MoU was signed by Mr. V K Magapu, Chief Executive, L&T Infotech: Whole-time Director and Member of the Board, the Company, at Powai, Mumbai, while it was signed by Mr. Bruno Latchague, Executive Vice President, Development and Support, Industry Solutions, Dassault Systémes, in Paris while the interaction was through a video conference.

DS is a world leader for Product Lifecycle Management (PLM) software solutions using the power of 3D representation. DS reported revenues of USD 1.48 billion for F.Y. 2006.

Under the terms of the MoU, L&T Infotech intends to provide consulting, development and implementation services around DS end-to-end PLM portfolio.

The first end-to-end implementation by the partnership of L&T Infotech and DS is for the Heavy Engineering Division of the Company for a range of DS products in order facilitate knowledge management and to reduce the cycle time for engineering design, as well as for product delivery.

Speaking on the occasion, Mr. Magapu said, "L&T Infotech proposes to be a global force in manufacturing IT Solutions. We understand that there is life beyond ERP and one part of this is in the form of the Product layer. We plan to offer PLM business solutions starting with NPI (new product introduction) and ending with End of Life support." Expressing his satisfaction at the partnership with Dassault Systèmes, Mr. Magapu said L&T Infotech was looking forward to a marquee installation in the Heavy Engineering Division of the Company.

Mr. Christian Nardin, Managing Director, DS Asia, described the L&T Infotech-DS relationship as a major transition from a focus on cost management to a focus on value creation.

Source : Equity Bulls

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