L&T Technology Services, a global leading pure-play engineering services company, has partnered with California based Cadence Design Systems (CDNS), a leader in manufacturing electronics and integrated circuits to launch its new NB-IoT (Narrow Band-Internet of Things) protocol stack nB-on which will be hosted on Cadence's Tensilica platform.

Ashish Khushu, Chief Technology Officer at L&T Technology Services said, ''We are excited to roll out nB-on, a comprehensive and light-weight 3GPP NB-IoT device protocol stack developed by LTTS that is both platform and industry agnostic. Our partnership with Cadence Technologies involves integrating nB-on with Cadence's popular Tensilica platform, which will result in cost effective use cases for a multitude of functions ranging from smart parking management, smart meters to modern fleet and waste management. Our combined NB-IoT package will provide enhanced IoT connectivity, lowering deployment & maintenance costs while supporting a large number of devices. LTTS has been an important contributor to prevailing 3GPP NB-IoT standards and anticipates mass adoption of the nB-on solution in the near future.''

Shares of the company declined Rs 20.55, or 1.56%, to trade at Rs 1,305.00. The total volume of shares traded was 1,298 at the BSE (11.54 a.m., Monday).