ITC Infotech Acquires Blazeclan Technologies for ₹485 Crore

19 Apr 2024 , 12:21 PM

ITC Infotech, a wholly-owned subsidiary of ITC, has announced a share purchase agreement to acquire Blazeclan Technologies for ₹485 Crore, as per an exchange filing issued on April 18.

The agreement involves the acquisition of 100% stake in Blazeclan Technologies, a Pune-based IT firm. The deal is expected to be finalized within the next 6-8 weeks, pending customary closing conditions.

The acquisition aims to enhance ITC Infotech’s capabilities in servicing customers within multi-cloud and hybrid cloud environments, focusing on accelerating future growth through partner ecosystems.

It is anticipated that the acquisition will strengthen ITC Infotech’s dedication to guiding clients through their digital transformation journey and delivering business outcomes leveraging robust cloud capabilities.

Blazeclan Technologies specializes in cloud migration, digital services, digital cloud consulting, and data analytics & insights. It holds prestigious partnerships with AWS and Snowflake, positioning itself as a leader in providing cloud transformation solutions globally.

At the time of writing, ITC shares were trading 1.07% lower at ₹423.35 on the BSE.

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