LTIMindtree stock jumps 7% as company bags largest deal in its history; all you need to know

IT company LTIMindtree on Monday announced it has bagged a USD 450 million contract spread across seven years from a firm that holds a leadership position in the global agribusiness sector.

The deal is the largest in the history of LTIMindtree, it said, but did not divulge the name of the company.

As part of the deal, the Indian IT firm will implement an AI-powered operating model to deliver application management, infrastructure support, and cybersecurity services.

"LTIMindtree...announced a strategic agreement with a leader in the global agribusiness sector. This is the largest deal in the history of LTIMindtree, valued at USD 450 million across seven years," the company said in a release.

Giving details, it said, the suite of future-ready IT services, built on platforms such as SAP, S/4HANA, ServiceNow, Microsoft Azure, as well as proprietary AI frameworks, are aimed at enhancing the client’s operational efficiency, scalability, and global growth.

"Securing this large deal marks a pivotal milestone as we transform to an AI-driven business model, helping our clients enhance productivity. "We are proud to be the trusted partner for one of the world’s most respected agribusiness companies," Venu Lambu, Chief Executive Officer (Designate) and Whole-Time Director, LTIMindtree said.

Nachiket Deshpande, President - Global AI Services, Strategic Deals at LTIMindtree termed it an "important deal" and said winning it underscores the company's strength in crafting innovative solutions and delivering with excellence.

At 3:22 PM, shares of LTIMindtree were trading 6.98% higher at ₹4,944.30 apiece on the NSE.