L&T to buy UK based Thalest Group

Engineering major Larsen & Toubro [stockquote]LT[/stockquote] has completed a share sale agreement to buy UK-based Thalest Ltd. Thalest is the holding company of Servowatch Systems, Bond Instrumentation & Process Control and Servowatch (USA).

Thalest is into integrated platform management system and integrated bridge system solutions for naval warships and mercantile marine ships, vessels and floating systems.

Highlight of the deal is the technological synergy both companies could explore. The deal is valued at Rs 26 crore.