Zen Technologies Limited approves acquisition of AiTuring Technologies Pvt Ltd

The Board of directors of Zen Technologies Limited at its meeting held today (i.e., February 24, 2024) has considered and approved the acquisition (51%) of AiTuring Technologies Private Limited (ATPL) with a consideration of about ~₹3.87 Crores, which will become a subsidiary of the Company upon acquisition.

AiTuring Technologies Private Limited (ATPL) (CIN: U46529PN2023PTC220275) offers a comprehensive suite of solutions for electronic optics and robotics and is committed to focused research and development, providing support, and manufacturing advanced long-range electro-optics.

The benefits of the acquisition are:

- In line with offering complete Counter-Drone Solution including Electrooptics
- Expanding product portfolio
- Achieving cost savings and operational efficiencies through backward integration
- Gaining valuable technology, IP, and talent.

Shares of Zen Technologies Limited was last trading in BSE at Rs. 801.65 as compared to the previous close of Rs. 805.40. The total number of shares traded during the day was 14263 in over 969 trades.

The stock hit an intraday high of Rs. 815.00 and intraday low of 800.00. The net turnover during the day was Rs. 11473403.00.

Source : Equity Bulls

Keywords

ZenTechnologies INE251B01027 Defence Acquisition AiTuringTechnologies