ITC Infotech to acquire Blazeclan Technologies

ITC announced that its wholly owned subsidiary – ITC Infotech India has entered into a share purchase agreement for acquisition of 100% of the share capital of Blazeclan Technologies. The total consideration is up to Rs 485 crore including contingent consideration which is subject to
achievement of prescribed targets.

Blazeclan is a born-in-the-cloud consulting company providing cloud services on AWS, Azure and GCP, and has been recognized as a Niche Player in the 2023 Gartner Magic Quadrant for Public Cloud IT
Transformation Services.

This acquisition is expected to augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with focus on the Partner eco-system to accelerate future growth.

The acquisition is expected to strengthen ITC Infotech’s commitment to helping clients navigate their digital transformation journey and deliver business outcomes built on the foundation of strong Cloud capabilities.

Powered by Capital Market – Live News

First Published: Apr 18 2024 | 4:40 PM IST