OREANDA-NEWS. L&T Technology Services, a wholly-owned subsidiary of Larsen & Toubro Limited (L&T), has purchased 74% of the equity capital of Thales Software India Pvt. Ltd., the Indian subsidiary of Thales, the global technology leader in aerospace, transportation and defence and security markets.

With this transaction, L&T Technology Services will now manage and oversee the management control, operations and delivery of services of the new joint venture.

The joint venture brings together the strategic strengths of both the groups. By retaining 26% equity stake, Thales will help the company develop the latest trends in the avionics industry, one of its core businesses. This collaboration adds to L&T Technology Services' growing competencies by enhancing its expertise in high-end avionic software.