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Business Standard
28-05-2025
- Business
- Business Standard
LTIMIndtree, Aramco Digital to start IT services company in Saudi Arabia
LTIMindtree has tied up with Aramco Digital, the digital and technology arm of Saudi Arabia's oil behemoth Aramco, to start an IT services company named NextEra in the country, the companies said in a joint statement on Wednesday. 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.
Time of India
28-05-2025
- Business
- Time of India
Aramco Digital and LTIMindtree launch next-generation IT services company, NextEra
Aramco Digital, the digital and technology subsidiary of Aramco, and LTIMindtree has announced NextEra – a next-generation IT services company headquartered in the Kingdom of Saudi Arabia. The strategic joint venture – officially named 'LTIM Aramco Digital Solutions for Information Technology Company' - 'NextEra' is designed to accelerate Saudi Arabia's digital transformation in alignment with the Kingdom's ambitious Vision 2030 . NextEra is backed by Aramco's Namaat Industrial Investments Program and represents a shared commitment to fostering a robust, homegrown digital ecosystem. The new entity will leverage cutting-edge technologies to offer solutions that enhance operational efficiency, enable intelligent decision-making, and deliver seamless customer experiences across industries. Built on six core pillars—AI and automation, scalable cloud services, deep industry expertise, digital engineering, sustainability, and customer centricity—NextEra intends to provide future-ready services tailored to the evolving needs of both regional and international markets. Nabil Al-Nuaim, Chairman of NextEra and CEO of Aramco Digital said 'The launch of NextEra marks a pivotal milestone in our efforts to localize IT services and contribute to advancing the Kingdom's digital landscape. We are glad to partner with LTIMindtree in establishing this joint venture, which brings together world-class technology expertise and deep local insight. Through NextEra, we aim to build a future-ready digital ecosystem that drives innovation, enhances national competitiveness, and contributes to the Kingdom's digital transformation journey under Vision 2030. 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.' With its blend of local knowledge and global expertise, NextEra aims to be a cornerstone of Saudi Arabia's digital future—optimizing operations, driving innovation, and enabling sustainable growth across strategic sectors. Venu Lambu, Vice Chairman, NextEra; Chief Executive Officer (Designate) and Whole-Time Director, LTIMindtree said '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.' Dina Aboonoq, CEO and Board Member, NextEra; Executive VP, LTIMindtree said 'This joint venture is a key step toward Saudi Arabia's Vision 2030, as we build a national platform for innovation and sustainable digital growth. Through advanced delivery centers and partnerships with local universities, we're accelerating digital transformation, empowering local talent, and supporting SMEs and major industries with tailored managed services that ensure excellence and compliance.'
Fashion Value Chain
21-05-2025
- Business
- Fashion Value Chain
LTIMindtree Signs MoU with IIM Mumbai to Launch Postgraduate Program for Executives in AI-led Experience Design
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, has signed an MoU with the Indian Institute of Management Mumbai (IIM Mumbai) to launch a 1-year Blended Post Graduate Program for Executives (PGPEx) in AI-led Experience Design. This year-long program is designed to equip professionals with cutting-edge skills in customer experience (CX) design by leveraging the transformative capabilities of artificial intelligence. The program, primarily delivered online, incorporates two immersive week-long on-campus modules at IIM Mumbai. These sessions provide participants with the invaluable opportunity to engage directly with eminent faculty and collaborate with industry peers. The curriculum has been meticulously designed to address the increasing demand for AI-driven experience design. Participants will gain expertise in advanced CX concepts while developing strategic business acumen through integrated management courses. 'Our partnership with IIM Mumbai underscores our commitment to nurture and groom talent for future of work,' said Mr. Venu Lambu, CEO (Designate) & Wholetime Director, LTIMindtree. 'By combining LTIMindtree's deep industry insights with IIM Mumbai's academic excellence, this program empowers professionals to redefine customer experience in an AI-driven world. It is a significant milestone in shaping the future of CX design and its transformative impact on businesses globally.' 'At IIM Mumbai, we are happy to partner with LTIMindtree to launch this pioneering program in AI-led Experience Design,' said Prof. Manoj Kumar Tiwari, Director, Indian Institute of Management Mumbai (IIM Mumbai). 'By combining our academic rigor with LTIMindtrees industry expertise, were empowering executives to harness the power of AI and redefine customer experiences. This collaboration embodies our commitment to innovation and bridging the academia-industry gap.' This partnership underscores a shared vision of LTIMindtree and IIM Mumbai to foster innovation and bridge the gap between academia and industry. Together, they aim to develop a new generation of professionals skilled in designing AI-powered customer experiences that drive business success. About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 86,000+ talented and entrepreneurial professionals across more than 40 countries, LTIMindtree – a Larsen & Toubro Group company – solves the most complex business challenges and delivers transformation at scale. For more information, please visit About IIM Mumbai IIM Mumbai, formerly NITIE, is a renowned management institution established in 1963. Ranked 6th in Indias 2024 NIRF Rankings, it excels in Operations, Supply Chain, Sustainability, and General Management. Located in Mumbai, the institute leverages its proximity to the financial capital for industry interface and collaboration. With a faculty from top global institutions like MIT and Kellogg School of Management, IIM Mumbai offers a vibrant intellectual environment. The institute boasts state-of-the-art infrastructure, a world-class library, and a picturesque campus. As a nodal hub for capacity building under the PM Gati Shakti National Master Plan, it hosts a Centre of Excellence in Logistics and Supply Chain Management. IIM Mumbai innovates in pedagogy and impact, with international student exchange partnerships and cutting-edge research, shaping leaders and Indias management ecosystem. Its strong industry connections and research focus make it a leader in management education. For more information, please visit
Time of India
13-05-2025
- Business
- Time of India
LTIMindtree wins $450 million deal from ADM
BENGALURU: LTIMindtree won its largest deal ever, worth $450 million, from US food processing and nutrition company Archer Daniels Midland (ADM). The deal spans a seven-year duration. Headquartered in Chicago, ADM connects crops to markets on six continents and recorded $102 billion in net sales in 2022. As part of this deal, LTIMindtree will implement an AI-powered operating model to deliver application management , infrastructure support, and cybersecurity services . This comprehensive suite of future-ready IT services aims to enhance the client's operational efficiency, scalability, and global growth. "Securing this large deal marks a pivotal milestone as we transform to an AI-driven business model, helping our clients enhance productivity," said its CEO designate Venu Lambu. A few months ago, LTIMindtree bagged an over $200 million deal, which is a combination of renewal and new scope. In yet another development, LTIMindtree's nomination and remuneration committee approved London-based Lambu's compensation, which includes a fixed pay of GBP 850,000 and a variable pay of up to GBP 350,000 subject to performance, the postal ballot notice showed. It also includes a profit-linked incentive of 0.15% of the standalone profit after tax, 40,000 stock options granted at an exercise price of Rs 1 each, with equal vesting over a period of four years under the LTIMindtree Employees Stock Option Scheme, 2015. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo The company said the total remuneration may be revised as per the company's policy, subject to an annual increment of up to 3% as decided by the board upon the recommendation of the NRC. Based on rough calculations derived from LTIMindtree's profits and the previous year's average share price, Lambu's compensation package could range between GBP 2.6 million to GBP 2.8 million annually, equivalent to $3.4 million to $3.7 million, although the company has not disclosed the exact figures. Its current CEO, Debashis Chatterjee's remuneration rose 68% to Rs 32.5 crore in the 2025-25 financial year. Its former president, Sudhir Chaturvedi's salary rose 88% to Rs 17.3 crore who resigned from the firm in January. The amount excludes dues to be recovered. The median remuneration of employees of the company during the last fiscal was Rs 17.4 lakh, a 24.4% increase in the median remuneration of employees. Last year, the average increase on an annual basis in the salary of employees, other than managerial personnel, was 4.1% globally, comprising around 5.5% in India and 2.2% in other geographies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
12-05-2025
- Business
- Time of India
LTIMindtree bags its biggest order yet, $450 million multi-year deal with global agribusiness
LTIMindtree has announced agreement with a leader in the global agribusiness sector. The company claimed that this is the largest deal in the history of LTIMindtree, valued at $450 million across seven years. As a part of this deal, LTIMindtree will implement an AI-powered operating model to deliver application management, infrastructure support, and cybersecurity services. This comprehensive suite of future-ready IT services, built on platforms such as SAP S/4HANA, ServiceNow, Microsoft Azure, as well as proprietary AI frameworks are aimed at enhancing the client's operational efficiency, scalability, and global growth. "Securing this large deal marks a pivotal milestone as we transform to an AI driven business model, helping our clients enhance productivity." said Venu Lambu, Chief Executive Officer (Designate) and Whole-Time Director, LTIMindtree. "We are proud to be the trusted partner for one of the world's most respected agribusiness companies. "Winning this important deal underscores our strength in crafting innovative solutions and delivering with excellence.' said Nachiket Deshpande, President - Global AI Services, Strategic Deals, LTIMindtree. Samir Gosavi, Chief Business Officer – Retail and CPG, LTIMindtree, added, 'This win marks a major breakthrough for our consumer services business. Our AI-driven operating model will drive measurable business impact in an industry that's evolving rapidly."
