India's L&T transfers data center and cloud business to Vyoma.AI for INR14 billion
DIGITIMESen
Larsen & Toubro (L&T) has agreed to transfer its data center and cloud services business to Vyoma.AI, a wholly owned subsidiary, for INR14 billion (approx. US$146.7 million) in a slump sale on a going-concern basis, according to Business Standard and the Economic Times . The consideration will be settled by issuing fully paid-up equity shares in Vyoma.AI rather than cash, thereby keeping the business under L&T's indirect ownership.
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