AMI Paradigm Solutions acquires L&T Tech's smart world and communication business for Rs 452 crore

Hyderabad: AMI Paradigm Solutions Private Limited (AMIPS), a joint venture between AM Group and ParadigmIT, has inked a binding transfer agreement (BTA) with L&T Technology Services (LTTS) to acquire its smart world and communication (SWC) business on a slump sale basis for a consideration of Rs 452 crore, L&T Technology said in a regulatory filing. The SWC portfolio of LTTS operates in India and overseas. The consideration of Rs 452 crore is subject to normal working capital, net debt and other adjustments as set out in the BTA. The transaction is expected to close on or before Sept 2026, subject to customary conditions, LTTS said.The deal is aimed at expanding AMIPS’ sovereign AI offerings for govts, public systems and critical infrastructure, AMIPS said on Thursday. While AMG is promoted by Greenko Group founders Anil Chalamalasetty and Mahesh Kolli, ParadigmIT is promoted by Sridhar Gadhi.AMIPS said the acquisition would strengthen its long-term strategy to build AI-led intelligence solutions across mission-critical sectors. The company is positioning itself as part of a vertically integrated AI platform spanning carbon-free power, data centres, high-performance chips, software, applications and flexible consumption models.Citing estimates, the companies said demand for sovereign AI services is rising rapidly, with the global market currently estimated at about $25 billion and projected to approach $100 billion by the early 2030s.AM Group has already announced an investment of $25 billion to develop a 1 GW high-performance compute hub in Uttar Pradesh, with the first phase of about 250 MW under development on land allocated by YEIDA.AM Group chairman Anil Chalamalasetty said the Smartworld business would help deploy AI across govts, cities, utilities, transport networks and enterprises.Sridhar Gadhi of ParadigmIT said the acquisition would support development of domain-specific models, sovereign AI architectures and lower-cost AI tokens powered by clean energy. LTTS CEO Amit Chadha said the sale aligns with the company’s sharpened focus on engineering intelligence, software and digital manufacturing, while providing continuity and value for employees and clients.