India’s largest engineering and construction major, Larsen & Toubro (L&T), has entered into an agreement to acquire 100% stake in Thalest Limited, a UK-based company.
The formalities associated with the share sale agreement of the deal have been completed and the value of the deal is estimated to be nearly £3.2 million or Rs 26 crore.
The synergy will bring in technology to manage and provide solutions for automating controls in naval and marine ships.
Thalest is present across the value chain in the naval segment, which will enhance the pedigree of L&T in the engineering and construction space. In technical terms, Thalest offers Integrated Platform Management System (IPMS) and Integrated Bridge System (IBS) solutions for naval warships as well as mercantile marine ships.
Thalest group is the holding company for Servowatch Systems, Servowatch (USA) and Bond Instrumentation & Process Control.
According to S.C. Bhargava, Senior Vice-President & Head of L&T Electrical & Automation, “We are approved as an IPMS and IBS supplier for the Indian Navy together with Servowatch.”
Speaking about the value proposition brought by the deal, Bhargava said, “In the marine space, we are currently developing marinized switch gear, switch boards, distribution boards, starters and control systems for application on board naval ships as well as commercial ships.
Thalest and Servowatch joining the L&T family will help offer cutting edge technology in control and automation not only for marine application but also for emerging segments.”
“Thalest deep understanding of the control and automation space will open new vistas in other markets and segments,” Bhargava affirmed.
Servowatch offers control systems for commercial ships, marine asset management, advanced integrated ship control systems, automation, platform management and bridge, navigation, communication and multimedia packages for navies of countries including India, UK, US, Australia, Thailand amidst others.
On a casual note, the Thales Group of UK is named after the famous Greek philosopher Thales, who was acknowledged by Aristotle as the first philosopher in Greek tradition.