Larsen & Toubro (L&T), a major player in engineering, announced on Tuesday that it will purchase a 21% stake in E2E Networks, an Indian AI cloud provider, through an all-cash transaction worth ₹1,327 crore.
Additionally, L&T revealed a strategic partnership with E2E, marking a significant move in the tech industry.
In a two-part agreement, L&T plans to acquire 4.17 million equity shares of E2E Networks, representing a 21% share in the company.
“Collaborating with E2E Networks allows us to offer our clients seamless, scalable and secure cloud experiences,” said Seema Ambastha, chief executive of L&T data centre and cloud business.
According to L&T’s statement to the BSE, E2E specializes in cloud computing platforms powered by CPUs and GPUs, enabling large-scale AI and general computing tasks in partnership with Nvidia.
Following the acquisition, L&T will have the authority to appoint up to two directors to E2E’s board.
“The strategic collaboration between E2E Networks and L&T marks a significant milestone for the future of adoption of domestically built hyperscaler cloud platforms in India,” said Tarun Dua, chairman and managing director of E2E Networks.
Through this alliance, L&T will combine E2E’s cloud and AI platform with its own data center and cloud expertise. This collaboration aims to provide robust cloud solutions to empower startups and enterprises.
E2E offers advanced cloud computing tools, including the AI/ML platform TIR and high-performance cloud GPUs like Nvidia A100, H100, and H200.
