LTIMindtree edges up on strategic collaboration with Cast AI

Shares LTIMindtree Limited gained over a percent to Rs 5,187 on August 29 after the company announced a strategic collaboration with Cast AI to help companies save on cloud costs as they modernise legacy applications for cloud migration, the company said in an exchange filing on August 28.
Cast is a leading software-as-a-service or SaaS company that specialises in automated cost optimisation for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure. “The partnership will help companies save, on average, over 60 percent on cloud costs as they modernize legacy applications for cloud migration,” LTI said in a statement on Monday
Speaking about the collaboration, Nachiket Deshpande, LTI`s whole-time director, and chief operating officer, said that the partnership with Cast AI has enabled us to offer discrete services to our customers aligned with their business goals and objectives.
Under this collaboration, LTIMindtree’s infinity platform alongside CAST AI’s cloud cost optimisation platform, will provide enterprises with a complete view of their cloud portfolio. The combined offering will empower organisations to optimise Kubernetes management and costs in a single or multi-cloud environment, without any manual intervention. Last week, Alphaq, the largest U.S. supplemental insurance provider, selected it as a digital transformation partner to digitally transform the company by leveraging cloud-native services from Amazon Web Services (AWS).
In July, the company announced a strategic partnership with CYFIRMA to enhance the threat intelligence capabilities of its XDR platform, helping global enterprises identify, assess and manage potential risks and threats.