India: L&T Tech Services chasing M&A targets in sub-$50m range as it steps up focus on IoT, cloud space

Ahead of its initial public offer (IPO), L&T Technology Services Ltd, a unit of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T), is looking at buying small companies worth less than $50 million even as it is focusing on Internet of Things (IoT), cloud and automation, said Keshab Panda, chief executive in an exclusive interview.