LTM, a global technology consulting and digital solutions company, through its wholly owned subsidiary LTIMindtree UK Ltd, has made an offer to acquire Randstad NV’s technology and consulting services business in France, Germany, Belgium, Luxembourg and Australia to strengthen its domain-led digital engineering and AI services capabilities.
The business targeted for acquisition represents annual revenue of about $500 million (€469 million).
Acquisition valued at €160 million
LTM said in a regulatory filing that the enterprise value of the proposed acquisition stands at €160 million on a cash-free, debt-free basis, subject to customary valuation adjustments at closing.
The transaction is expected to be completed by the fourth quarter of FY27.
As part of the deal, LTM will acquire Randstad Digital B.V in Netherlands, Randstad Digital France SAS in France and Finxl Professional Services Pty Ltd in Australia along with their subsidiaries.
Strengthens AI and engineering capabilities
The acquisition is expected to strengthen LTM’s presence across aerospace and defence, automotive, utilities and banking and financial services sectors.
According to the company, the transaction would enhance its regional capabilities in digital engineering, cybersecurity and Internet of Things (IoT), supported by onshore and nearshore delivery centres in Romania and Portugal.
The acquisition is also expected to strengthen LTM’s AI-centric transformation capabilities with local domain expertise and sovereign-compliant delivery models across Europe and Australia.
Five-year strategic collaboration
The proposed acquisition forms part of a broader 360-degree collaboration between LTM and Randstad, including a five-year IT services partnership to drive AI-enabled transformation for Randstad’s India Global Capability Centre and a strategic talent managed services programme to support LTM’s global workforce expansion.
LTM CEO & Managing Director Venu Lambu said: “The proposed agreement is aligned with our five-year strategy to build a more resilient, diversified and balanced portfolio. By combining our global AI-centric capabilities with local context and industry depth, this acquisition would strengthen our ability to deliver compliant, domain-driven AI services and sovereign solutions in markets that are strategically important to us. This 360-degree partnership with Randstad would be a key step forward in our growth journey.”
Randstad CEO Sander van ’t Noordende said: “By partnering with LTM, we would ensure our clients continue to receive world-class services while we streamline our portfolio to invest in growth segments and digital marketplaces that offer the most scale and value.”