L&T Technology Services Limited — M&A Activity 2020

Jul 16, 2020

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Sr.No	ItemsforDisclosure	Description
1	Nameofthetargetentity,details	Name:OrchestraTechnology,Inc.(Orchestra)
	inbriefsuchassize,turnoveretc.
		TurnoverinCY2019:USD15.1Million
		Companyprofile:OrchestraTechnologyisa
		specialisttechnologypartnerforthewirelessand
		mobileeco-systems.Thecompanydelivershigh
		valueengineeringservicesandsolutionsfor
		telecomindustryintheareasofNetwork
		Engineering&Operations(for5G,10T,RANand
		COREnetworks)andEnterpriseMobility.Itis
		headquarteredinDallas,Texasandhasan
		employeestrengthofaround80+
2	Whethertheacquisitionwould	TheacquisitionofsharesofOrchestraisnota
	fallwithinrelatedparty	relatedpartytransaction.
	transaction(s)andwhetherthe	Thepromoter/promotergrouphavenointerest
	promoter/promotergroup/	intheentitybeingacquired.
	groupcompanieshaveany
	interestintheentitybeing
	acquired?Ifyes,natureof
	interestanddetailsthereofand
	whetherthesameisdoneat
	"armslength";
3	Industrytowhichtheentitybeing	TelecommunicationServices
	acquiredbelongs;
4	Objectsandeffectsofacquisition	1.ThisacquisitionwillenableLTTSto
		strengthenitsfootprintintheTelecom
		OEMandServiceProviderspace
		2.Orchestra'scapabilityinenablingOEM's
		andServiceProvidersmanageand
		optimizenetworkperformancewillforma
		keydifferentiatoras5Grolloutstakeoff
		acrossgeographies
		3.Orchestra'sflagshiptoolinfrastructurewill
		provideakeydifferentiatorforLTTSto
		expandtheirservicesandprovidevaluable
		assettoendcustomers
		4.OrchestrawillhelpbolsterLTTS
		investmentsaspartofopennetwork
		forumsONFandTIPacrosskeyelements
		of5GlikeORAN,PrivateNetworks,NBIoT

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5	Briefdetailsofanygovernmental	NotApplicable
	orregulatoryapprovalsrequired
	fortheacquisition;
6	Indicativetimeperiodfor	CompletionbyOctober2020
	completionoftheacquisition
7	Natureofconsideration-	Cashconsideration
	whethercashconsiderationor
	shareswapanddetailsofthe
	same;
8	Costofacquisitionorthepriceat	TotalDealValue:USD25Milliontobepaidin
	whichthesharesareacquired;	tranches
		-USD11Millionupfrontpayment
		-USD14Millionpaymentintheformofearn-outs
		andretentionpayspreadover3years
9	Percentageofshareholding/	Proposingtoacquire100%stake
	controlacquiredand/ornumber
	ofsharesacquired;
10	Briefbackgroundabouttheentity	LineofBusiness:TelecommunicationServices,
	acquiredintermsof	NetworkEngineeringandTesting
	products/lineofbusiness
	acquired,dateofincorporation,	Turnoverhistory:CY19—USD15.1M,CY18—
	historyoflast3yearsturnover,	USD9.8M,CY17—USD10.3M,
	countryinwhichtheacquired
	entityhaspresenceandanyother	Countriespresentin:USA
	significantinformation(inbrief);