Mumbai, Mar 26 (TNT): AMI Paradigm Solutions Private Limited (AMIPS), promoted by the AM Group (promoted by the founders of Greenko) and ParadigmIT Services Technology Private Limited, on Thursday announced the signing of a binding agreement to acquire the Smart World and Communication (SWC) business of L&T Technology Services.
The acquisition is aimed at strengthening AMIPS’ capabilities in building sovereign AI solutions for public systems and critical infrastructure, the company said in a release.
The Smartworld portfolio’s capabilities across India and global markets are expected to complement AMIPS’ long-term strategy, particularly in accelerating AI-powered intelligent solutions.
In a release, the company said it is building a vertically integrated AI platform spanning carbon-free power, data centre infrastructure, high-performance chips, software stack, applications and flexible consumption models, including “Accelerator as a Service” and “Tokens as a Service”.
The global market for sovereign AI services is currently estimated at around USD 25 billion and is projected to grow to nearly USD 100 billion by the early 2030s, expanding at an annual rate of about 20 per cent, driven by increasing adoption of AI in governance, security and data-driven policymaking.
Aligned with its vision of democratising AI, the AM Group is developing an end-to-end value chain through its AM Intelligence (AMI) platform, converting clean energy into intelligent compute capabilities.
As part of its expansion, the group is investing USD 25 billion to develop a 1 GW high-performance computing hub in Uttar Pradesh, with the first phase of 250 MW being set up on land allocated by the Yamuna Expressway Industrial Development Authority.
Anil Chalamalasetty, Chairman of AM Group, said the acquisition will help operationalise AI solutions across governments, cities, utilities and enterprises, enabling more data-driven and autonomous infrastructure.
Amit Chadha, CEO and Managing Director, L&T Technology Services,said the move aligns with the company’s strategic focus on engineering, software and digital manufacturing, while enabling AMIPS to enhance its AI offerings and deliver value to clients.
Sridhar Gadhi of Paradigm IT said “the acquisition will help build domain-specific AI models and sovereign AI architectures, enabling enterprises and governments to transition towards intelligent, outcome-driven systems”.
The transaction is expected to be completed by July 2026, subject to customary approvals and conditions.
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