MindTree announced that it had completed the acquisition of NxT Digital business from tech giant L&T on July 1. The deal was signed for a sum of Rs 198 cr. MindTree will be able to access opportunities in the IoT and Industry 4.0 space. L&T is the major shareholder of MindTree with a 61.03% stake. MindTree in their regulatory filing said the business transfer agreement between L&T and MindTree was signed on 20 May 2021.