Cressanda Solutions Limited (Cressanda) is an India based company engaged in providing Information Technology (IT), digital media and IT enabled services. The Company has recently entered into a Memorandum of Understanding with Buffshelfco 59 (Pty) Ltd. South Africa for providing IT Infrastructure Services, Super App Services, Digital Services and Marketing Services. Buffshelfco 59 (Pty) Ltd. with a Consortium which specializes in Consulting, Networking, IT Infrastructure, Digital Solutions, E-Commerce and Digital Marketing.
On July 18, 2022, Cressanda signed a Memorandum of Understand ing ("MoU") with a consortium led by Buffshelfco 59 (Pty) Ltd, South Africa (Buffshelfco) for a three-year period to provide cutting-edge user experience by delivering superior services in the domains of IT Infrastructure, Super App development, Digital services, and Marketing services across multiple static and mobile platforms. Buffshelfco and Cressanda's collaboration seeks to create a dependable, technologically advanced, and smooth consumer experience to millions of customers across India.
Cressanda intends to use this MoU to cap ita lise on Buffshelfco's experience in South Africa for development of Super Apps, which will offer a variety of digital services like online gaming, online entertainment, e-commerce, advertising, and other value-added services. Buffshelfco employs a distinctive Adoption & Consumption Delivery Model, allowing the business to better serve customers by addressing their demands with an interface that is exceptionally user-friendly (eX). This tactic will make it possible for users to adopt new technologies and then use the services made available through the platform, hence boosting user engagement and stickiness.
Buffshelfco, South Africa (through a consortium) also brings to the table, deep expertise in developing Next gen IT Infrastructure services, Advisory & Consulting services and ICT Implementation services. With these expertise and experience, Cressanda aims to provide uninterrupted mobile Wi-Fi services to vast number of users of its services at multiple location spread across India while using any mode of transportation - road, rail, water or air.
In addition to having the knowledge, Buffshelfco (with the consortium) has been a trailblazer in establishing:
- IT infrastructure on Prasa (South African Railway)
- Internet on plane in Africa
- Innovative products that competitors have often tried to emulate.
- Capabilities in tech that serves likes of AT&T, Volkswagen Group, HP, Coca Cola, Ford and many more.
This partnership will enable Cressanda to create an app that will be designed to deliver measurable business value for brands providing services on the app while engaging its users with multiple entertainment and utility avenues. Further, it will also assist Cressanda to provide Next Gen IT Services, Marketing & other Digital Services through the technical know-how of the Consortium Companies holding expertise in providing Advertising services, Data insights using Artificial Intelligence and various other Value Added Services.
Commenting on the newly formed Partnership, the Management team of Cressanda mentioned, "We are pleased to announce the newly formed partnership with Buffshelfco 59 (Pty) Ltd for providing Next Generation IT Infrastructure Services, Super App Services, Digital Services and Marketing Services. This arrangement is in line with our transformative journey to innovate, expand and integrate our technology offerings with capabilities to service large institutional opportunities. With the help of proficiency of Buffshelfco, we aim at providing quality services to our users. This agreement will also help us to provide exceptional services in our large institutional opportunity which services approximately 5 Lakh daily users. Our Partnership with Buffshelfco will open new avenues for our Company, thus enabling us to provide various Super App Services such as Online Gaming, E-Commerce and OTT Services along with a wider range of Wi-Fi internet services and Digital Marketing Services."
Shares of CRESSANDA SOLUTIONS LTD. was last trading in BSE at Rs. 38.35 as compared to the previous close of Rs. 36.55. The total number of shares traded during the day was 2404273 in over 3405 trades.
The stock hit an intraday high of Rs. 38.35 and intraday low of 36.70. The net turnover during the day was Rs. 91221671.00.