Strategic collaboration will see LTTS use the Thales Sentinel platform to help customers monetize their software with flexible licensing
FinTech BizNews Service
Mumbai, August 22, 2024: Thales, a leading global technology and security provider, has announced a new contract with global engineering and R&D firm L&T Technology Services Limited (BSE: 540115, NSE: LTTS). This partnership will bring Thales’s software monetization platform, Thales Sentinel, to LTTS’ customer base, especially in the High-tech, Sustainability and Mobility segments.
With over two decades of experience in deploying intelligent digital solutions, LTTS leads in optimizing enterprise operations and pioneering platforms in AI, Mobility, Sustainability, and Hi-Tech. LTTS’ advanced AI offerings in next-gen mobility and smart networks are pivotal in building robust digital infrastructures, enhancing safety, efficiency, and sustainability. Now with the Thales Sentinel software licensing and entitlement platform, LTTS will enable its customers to monetize its software solutions by harnessing recurring revenue business models including agile subscriptions and flexible usage-based pricing models.
Damien Bullot, Vice President, Software Monetization Solutions at Thales said: “This partnership builds on Thales’s long standing relationship with LTTS, helping their customers unlock the true value and potential of their software products through flexible pricing and subscription models, better compliance, and automated delivery and activation. We look forward to our continued collaboration to ensure their industry-leading AI offers are properly protected and monetized for maximum ROI.”
Under the new contract, LTTS will resell the Thales Sentinel platform to its customer base and group affiliates globally across diverse sectors, including transportation, medical, high-tech, telecom, and financial services.
Alind Saxena, Executive Director & President, Mobility & Tech at L&T Technology Services said: “Our partnership with Thales underscores our commitment to drive innovation and superior solutions across mobility, sustainability, and hi-tech, leveraging their Sentinel platform. Our proficiency in creating cutting-edge digital solutions and our deep understanding of AI will form the backbone of a robust digital infrastructure. We anticipate contributing to a cohesive digital thread throughout the value chain, accelerating market entry, reducing cycle time along with product development costs, and aiding our customers in their journey towards sustainability through improved software monetization potential."
