Larsen & Toubro to acquire B2B SaaS company Help Lightning for $2.5m
Larsen & Toubro (L&T) said that its fully-owned subsidiary Larsen & Toubro International has agreed to acquire a stake of 6.35% in Help Lightning, a Delaware-based B2B software as a service (SaaS) company for $2.5 million in cash.
Help Lightning provides a mixed reality platform for enabling virtual collaboration for field service operations.
Its cloud-based solution by applying augmented reality features, which include the merging of two video streams and the use of 3D annotation, is claimed to enhance real-time communications and solve complex problems.
The company is claimed to have more than 50,000 users across 88 countries. It operates in the US and has a captive development center in Beijing.
Help Lightning had made revenue of $3.9 million in 2020.
Larsen & Toubro expects to close the deal by 22 May 2021.