Indian IT services company LTIMindtree has announced the acquisition of its largest-ever deal, valued at approximately $580 million, according to sources familiar with the matter.
The agreement is with a leading global media and entertainment company, although the client’s identity has not been disclosed.
This milestone surpasses the company’s previous record, a $450 million deal with U.S. agribusiness giant Archer-Daniels-Midland, secured earlier this year.
The new contract positions LTIMindtree as a significant player in the mid-cap IT services sector, especially in securing large, AI-driven, outcome-based deals.
Industry experts, such as Phil Fersht, CEO of HFS Research, note that mid-cap firms like LTIMindtree, Coforge, and Mphasis are gaining momentum in this area, outpacing larger, more legacy-focused competitors.
These companies are perceived as more agile and capable of shaping AI-led value propositions, whereas larger firms are still optimizing their legacy portfolios.
The deal comes at a time when India’s $283-billion IT sector faces macroeconomic uncertainties, including tariff-related risks and changes in U.S. immigration policy.
Despite these challenges, LTIMindtree’s shares rose 3% following the announcement, reflecting investor optimism. The company is set to assist the client in streamlining operations and modernizing delivery models through automation, process optimization, and vendor consolidation.
This development underscores the growing influence of mid-cap IT firms in the global market, particularly in the realm of AI and automation-driven services.
As LTIMindtree continues to secure significant contracts, it positions itself for sustained growth and increased competitiveness in the international IT services landscape.
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