India's L&T Technology Services CEO Keshab Panda touted Israel’s entrepreneurship as his company announced plans to open a Jerusalem R&D center..
(photo credit: Courtesy)
L&T Technology Services announced that it would be opening a new research and development center in Jerusalem, a sign that multinational firms are continuing to mine Israel for disruptive technologies.
The Mumbai-based tech company, an engineering subsidiary of Larsen & Toubro, will focus on offering hardware and software-based cybersecurity tools, along with video interface for media and design.
LTTS is also opening a sales office in Tel Aviv.
LTTS first opened up an Israeli office three months ago with a delivery site in the Har Hotzvim neighborhood of Jerusalem.
It currently employs around 100 people, and with the expanding R&D center – labeled a “Center of Excellence” – the company plans to triple in size within the next three years.
The company has been active in Israel for a number of years, working with hi-tech firms that produce semiconductors and medical devices, and it maintain clients in a wide range of fields, including media, telecoms, automobiles and the “Internet of Things.”
LTTS aims “to deepen its involvement in Israel’s start-up and innovation ecosystem, and create new opportunities for growth with other industry players,” the Indian firm said in a statement, adding that it has been working alongside the Economy Ministry and the Israel Innovation Authority to get the center up and running.
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“L&T Technology Services’ use of digital engineering and smart technologies is driving customer core capabilities across the globe and addressing the need for digital transformation,” said Dr. Keshab Panda, the CEO and managing director of LTTS, on Tuesday.
“With Israel’s rich legacy in triggering tech innovations, we are confident in our ability to develop disruptive engineering services and create digital skill sets across embedded applications, machine learning and enhanced security, all of which are critical building blocks of the future.”
Earlier this year, the company announced a partnership with Microsoft Israel to develop the “smartest office campus” for a leading hi-tech company in Israel.
Its parent firm, Larsen & Toubro, is a multi-billion dollar conglomerate with operations in technology, engineering, construction, manufacturing and financial services. Its tech subsidiary employs more than 10,000 people.
The launch of an R&D center comes on the heels of Indian Prime Minister Narendra Modi’s historic visit to the Jewish state, as part of a renewed interest from Indian corporations to invest and acquire cutting-edge Israeli technologies.
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