Larsen & Toubro Infotech (LTI) has signed definitive agreements to acquire Syncordis S.A., headquartered in Luxembourg along with its identified subsidiaries in France, UK, Luxembourg and India.

The acquisition is subject to customary closing conditions which are expected to get completed within 6-8 weeks. The entire consideration will be paid in cash. The acquisition of Syncordis will expand LTI's core banking implementation capability.

Total volume of shares traded on the bourses today was lower by 92.55% to 10,511 compared with 22-day average volume of 141,138.

Shares of the company gained Rs 23.35, or 2.47%, to trade at Rs 960.55. The total volume of shares traded was 9,967 at the BSE (11.02 a.m., Wednesday).