New Delhi, March 26 -- L&T Technology Services Ltd is set to sell its smart world and communication (SWC) business to AMI Paradigm Solutions Pvt Ltd, a newly formed entity backed by renewable energy company AM Group and digital public infrastructure developer ParadigmIT Services Technology Pvt Ltd.

AMI Paradigm (AMIPS), in a statement, said it has signed a binding agreement for the acquisition, which is expected to close by July 2026, subject to customary approvals. The financial details of the transaction were not disclosed.

The entity has been set up by AM Intelligence Labs Pvt Ltd, promoted by the founders of the Greenko Group, and ParadigmIT.

The deal comes as AM Group advances plans to invest about $25 billion to build a 1 GW high...