Religare Technova, which focuses on IT solutions in financial services, has been rechristened Dion Global Solutions.

This marks the completion of the restructuring exercise which it kicked off a year ago beginning with the demerger of financial services (formerly Religare Technova Global Solutions) from its healthcare IT businesses.

“The unveiling of our new brand identity is an important element in our growth strategy. It recognises that a successful software solutions business needs to be positioned and clearly articulates to the market that we are a separate company, independently listed and focused,” Mr Ralph Horne, Managing Director and Chief Executive Officer, said at a news conference here on Wednesday.

The new identity got shareholder approval at the annual general meeting on December 22, says a press statement. The company was listed on the BSE last October and is looking at an NSE listing as well, Mr Horne said.

Dion is expected to end the current fiscal with revenues of Rs 110 crore. The scrip was down 1.67 per cent to close at Rs 50.2 on Wednesday.

Published on February 2, 2011