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L&T Technology Services and Tele2 Announce Strategic M2M/IoT Partnership for the Transportation Industry

The M2M/IoT market under Transport and Mass Transit Sector is poised to go from $10.4Bn In 2014 to $29.4Bn by 2017 and $76.1Bn by 2020

Nov 04, 2014   16:39 IST 
Mumbai, Maharashtra, India; Stockholm, Sweden

L&T Technology Services a wholly owned subsidiary of Engineering major, Larsen & Toubro announced today that it has partnered with Europe based telecom operator Tele2 to jointly develop solutions around Machine-to-Machine (M2M) and Internet of Things (IoT).

 

The alliance will help L&T Technology Services’ and Tele2’s customers implement solutions that will reduce their time-to-market.  The concept of connected world is moving beyond cost and time advantage and today it’s about enhanced user experience coupled with the need for driving efficiency in operations as well as the cost of development and operations, it added.

 

This partnership between L&T Technology Services an engineering services major with its deep domain expertise in the Transportation sector and Tele2, with its proven credentials as the foremost provider of convergent communication services, holds a great potential for the transportation market.   Remote management of engine performance, Data collection and Analytics of vital parameters from Off Highway Vehicles, Engines and Coaches will help OEMs, Operators and Consumers in significantly improving  operational efficiencies, Improving warranty and service management and better the end- user experience.

 

This partnership will initially target the transportation and commercial, mass transit vertical (which includes Auto, Aero, Rail, Shipping and Off Highway and specialized vehicles) and all associated ancillary and similar industries .

 

Dr Keshab Panda, Chief Executive, L&T Technology Services commenting on this partnership said, “We are very excited to collaborate with Tele2 on providing IoT/M2M solution to the transportation and mass transit industry that benefit customers. Our engineering prowess and deep infrastructure understanding and expertise coupled with Tele2’s solutions will provide an excellent opportunity to improve customer services and create a safer and more connected customer experience."

 

About Larsen & Toubro:

Larsen & Toubro is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.

 

About L&T Technology Services:

L&T Technology Services is a wholly owned subsidiary of Larsen & Toubro with focus in the engineering services space, partnering with many of the Fortune 500 companies globally. It offers design and development solutions throughout the entire product development chain across various industries such as Industrial Products, Medical Devices, Transportation, Telecom and Hi-tech and Process Industry. The company also offers solutions in the areas of Mechanical engineering Services, Embedded Systems Services, Product Lifecycle Management (PLM), Engineering Analytics and Power Electronics and M2M and the Internet of Things (IoT) With a multi-disciplinary and multi-domain presence, we challenge ourselves every day to help clients achieve a sustainable competitive advantage through value-creating products, processes and services. Headquartered in India, with close to 9500 highly skilled staff, 6 delivery centres and operations in more than 30 locations around the world, we constantly find flexible ways of working tailored to our assignments and customer needs.

 

For additional information about L&T Technology Services, log on to www.LntTechservices.com

 

About Tele 2:

TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS PROVIDING CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 14 million customers in 9 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2013, we had net sales of SEK 30 billion and reported an operating profit (EBITDA) of SEK 6 billion.

 

Media Contact:

 

For L&T Technology Services:

Sasikumar Ramanathan

+91 98197 32467

sasikumar@adfactorspr.com

 

For Tele 2:

Lars Torstensson

EVP Corporate Communication and Strategy

Telephone: +46 702 73 48 79


 
 
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