LTI expands partnership with OKQ8 Scandinavia to accelerate digital transformation

Larsen and Toubro's information technology services arm L&T Infotech has expanded its technology partnership with OKQ8 AB Scandinavia.

Founded in 1999, Stockholm headquartered OKQ8 is one of the largest fuel companies in Sweden. It has a turnover of over SEK 39 billion (around $4 billion) and nearly 1,000 stations across Sweden and Denmark.

LTI has worked with OKQ8 since 2017, the company said in a statement.

Over the next five years, LTI will provide IaaS (Infrastructure-as-a-Service), security services, application operations, maintenance and development services to OKQ8.

“We are excited to expand our partnership with OKQ8 to design next-generation architecture and fulfill the company’s digital transformation vision. LTI would leverage its capabilities in exponential technologies and customer-centric approach to help OKQ8 accomplish its strategic goals,” Arun Sankaranarayanan, chief business officer, LTI Nordics, said.

L&T Infotech reported a marginal but better-than-expected quarterly profit in the third quarter ended December 2019  on the back of large deal wins. The Mumbai-based firm reported a net profit of Rs 376.7 crore in Q3 from Rs 375.5 crore a year ago, according to its exchange filing.

LTI has a strong presence across the Nordic region. It recently signed another multi-year deal in December 2019 with Swedish financial services firm Hoist Finance AB to manage the company's IT operations.