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L&T boosts AI, data centre push with E2E Networks deal
Hindustan Times
|November 06, 2024
MUMBAI/NEW DELHI: Larsen & Toubro Ltd's (L&T) investment in listed artificial intelligence (AI) cloud platform provider E2E Networks could speed up the engineering major's offerings in the data centres and AI space by 18-30 months, as it gives the company access to E2E's existing AI cloud platform.
As part of the deal, L&T will integrate E2E Networks' Cloud and AI Cloud platform with its data centre management and cloud solutions business.
L&T will be investing ₹1,407 crore to acquire a 21% stake in E2E Networks. This includes a 15% stake through a preferential allotment at 3,622.25 per share and secondary acquisition of a 6% stake at ₹2,750 per share.
L&T is developing its own data centres and has operationalized a 2MW facility at Panvel near Mumbai and a 12MW facility in Chennai in recent weeks.
Cette histoire est tirée de l'édition November 06, 2024 de Hindustan Times.
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