SIS Limited to invest in Staqu Technologies

SIS Limited has signed Share Subscription Agreement for acquisition of 7.65% shareholding in Staqu Technologies Private Limited. SIS proposes to invest Rs. 5 crore for acquisition of 7.65% shareholding (7,773 shares) on a fully diluted basis in Compulsorily Convertible Preference Shares.

Staqu was incorporated on June 16, 2015 in New Delhi, India and founded by the cofounders, i.e., Mr. Anurag Saini, Mr. Atul Rai and Mr. Pankaj Sharma. It is primarily a video and audio analytics and platform company. Its product called JARVIS (Joint AI Research for Video Instances & Streams) is an AI tool in video analytics and video management solutions that helps its customers. JARVIS works on cloud & on the Edge and on both digital & analog cameras.

Video analytics-based security solutions are expected to transform the security industry worldwide and the Company, to keep pace with this transformative trend, proposes to invest in such strategic capabilities.

Shares of SIS LIMITED was last trading in BSE at Rs. 514.95 as compared to the previous close of Rs. 511.95. The total number of shares traded during the day was 3984 in over 415 trades.

The stock hit an intraday high of Rs. 522.30 and intraday low of 511.90. The net turnover during the day was Rs. 2056299.00.

Source : Equity Bulls

Keywords

SISLIMITED INE285J01028 Investment StaquTechnologies JARVIS VideoAnalytics SecuritySolutions