ITC Infotech, the technology arm of the ITC Group, is set to acquire Pune-based cloud-services firm Blazeclan Technologies Pvt. Ltd. in an all-cash deal worth up to ₹485 crore, as per a regulatory filing by ITC Ltd. on Thursday.
An wholly owned subsidiary of ITC Ltd., ITC Infotech, a technology services and solutions provider, has signed a share purchase agreement to acquire 100% of the share capital of Blazeclan Technologies Pvt. Ltd., a cloud-consulting firm that offers services on AWS, Azure and GCP.
The acquisition reiterated ITC Infotech’s commitment to help clients steer digital transformation journey and deliver business outcomes built on the foundation of strong Cloud capabilities. The proposed acquisition would be completed in six to eight weeks, ITC said.
According to a company statement, ITC Infotech proposes to leverage the platforms and accelerators built by Blazeclan and the strong certified architect pool to strengthen its cloud offerings. With this agreement, ITC Infotech intends to further deepen its global presence through Cloud Competency Centres in Australia, Singapore, Malaysia, and India.
Sudip Singh, Managing Director and Chief Executive Officer of ITC Infotech said, ‘‘This acquisition will not only strengthen our capabilities significantly but will enable us to make scalable progress in the cloud space while providing access to key opportunities to unlock larger business value for our customers.’‘
Blazeclan Technologies, set up in 2010, reported a turnover of ₹249.50 crore during the fiscal 2022-23..
