LTM (formerly LTIMindtree) has offered to acquire the technology and consulting services business of staffing major Randstad across parts of Europe and Australia, as the Indian IT services firm looks to deepen its presence in regulated industries and expand its AI-led services portfolio.
The proposed deal covers Randstad’s technology and consulting operations in France, Germany, Belgium, Luxembourg, and Australia, representing more than $500 million in annual revenue, the companies said.
The acquisition would strengthen LTM’s footprint in sectors such as aerospace and defence, automotive, utilities, and banking and financial services, while also adding regional delivery capabilities through centres in Romania and Portugal.
The transaction comes as Indian IT services companies increasingly look at acquisitions and partnerships to bolster domain expertise, gain local market access, and sharpen AI capabilities amid slowing discretionary technology spending globally.
“The deal would augment LTM’s global AI-centric capabilities with local domain and nearshore expertise crucial for delivering digital and AI transformation for customers in a sovereign-compliant and scalable model,” the company said in a statement.
The proposed acquisition is part of a broader partnership between the two firms. This includes a five-year IT services agreement under which LTM will support AI-led transformation initiatives for Randstad’s India global capability centre, along with a strategic managed services partnership for talent support.
“The proposed agreement is aligned with our five-year strategy to build a more resilient, diversified, balanced portfolio. By combining our global AI-centric capabilities with local context and industry depth, this acquisition would strengthen our ability to deliver compliant, domain-driven AI services and sovereign solutions in markets that are strategically important to us,” Venu Lambu, CEO and Managing Director, LTM, said in a statement.
Randstad chief executive Sander van ‘t Noordende said the partnership would allow the company to streamline its portfolio while continuing to offer technology services to clients through LTM.
The deal is proposed to be executed through LTIMindtree UK, a wholly owned subsidiary of the company, subject to regulatory approvals and customary closing conditions.
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