Shares of L&T Technology Services Ltd. rose by 1.5% to touch a day’s high of Rs 5,513.75 on 22nd August, after the company announced a new contract with French aerospace major Thales, extending their two-decade-long collaboration.

The partnership will use Thales Sentinel to provide innovative business models for LTTS’ customers, focusing on high-tech, sustainability, and mobility. The former company has over two decades of experience.

The company’s advanced AI solutions in next-gen mobility and smart networks play a crucial role in developing strong digital infrastructures and improving safety, efficiency, and sustainability, according to a stock exchange filing. 

By using the Thales Sentinel software licensing and entitlement platform, LTTS will empower its customers to monetize their software solutions through recurring revenue models like agile subscriptions and flexible usage-based pricing.

Damien Bullot, VP of software monetization solutions at Thales, stated that the partnership enhances Thales’s long-standing relationship with LTTS by enabling customers to unlock the full value of their software products through flexible pricing, better compliance, and automated delivery.

Under the new contract, the company will globally resell the Thales Sentinel platform to its customers and group affiliates across various sectors, including transportation, medical, high-tech, telecom, and financial services.

Alind Saxena, Executive Director and President at LTTS, stated that their expertise in creating advanced digital solutions and deep knowledge of AI would support the development of a strong digital infrastructure.

“We expect to enhance the entire value chain by speeding up market entry, cutting development costs and time, and helping our customers achieve sustainability through better software monetization,” he said.

At 10:42 AM, the shares of LTTS were trading 1.34% higher at Rs 5,497.30 on NSE.

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