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LTIMIndtree, Aramco Digital to start IT services company in Saudi Arabia
The move will help LTIMindtree establish a stronger presence in the Middle East, a geography where Indian IT services providers have been focusing lately to boost their revenue. The company does not break up its revenue from the region, though it is bundled under 'rest of the world', which contributed about 12 per cent to the topline in the fourth quarter.
'Partnering with Aramco Digital to establish NextEra is a significant milestone in LTIMindtree's global expansion strategy. We are excited to bring our deep technical capabilities and cross-industry experience to support Saudi businesses in their digital journeys,' said Venu Lambu, NextEra Vice-Chairman and CEO-designate of LTIMindtree.
The new company will also accelerate Saudi Arabia's digital transformation in alignment with the Kingdom's ambitious Vision 2030, which aims to diversify revenue sources beyond the traditional oil market.
NextEra, which is banking on AI and automation, cloud services, and digital engineering as its core strengths, will offer solutions that enhance operational efficiency, enable intelligent decision-making, and deliver seamless customer experiences.
'The launch of NextEra marks a pivotal milestone in our efforts to localise IT services and contribute to advancing the Kingdom's digital landscape. This collaboration also reinforces Aramco Digital's commitment to accelerating digital progress across industrial and other strategic sectors, delivering sustainable impact, long-term value, and alignment with national priorities,' said Nabil Al-Nuaim, Chairman of NextEra and CEO of Aramco Digital.
LTIMindtree CEO Debashis Chatterjee said in the fourth-quarter analyst call that the company was working with a leading digital firm in Saudi Arabia to provide end-to-end operations services for its hybrid cloud security platform. It also counts a Middle East oil and gas company and a nuclear energy firm among its clients.
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