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ITC Ltd

ITC arm inks pact to acquire 100% stake in Blazeclan Technologies

Apr 19,2024 Hrs IST

Blazeclan is an AWS Premier Partner, Snowflake Elite Partner and a leader in providing Cloud transformation solutions to customers globally. Blazeclan has strong expertise in Cloud Migration, Digital Services, Digital Cloud Consulting and Data Analytics & Insights. Its turnover was Rs 249.50 crore in FY23.

The purpose of this acquisition is 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 focus is 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.

The said acquisition will be completed within 6 to 8 weeks and the total cost of the acquisition is Rs 485 crore.

The scrip rose 0.73% to trade at Rs 422 on the BSE.

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