TVS Electronics Ltd (TVSE) has executed a Business Transfer Agreement to acquire the business and IP rights of GTID Solutions Development Pvt Ltd to enter into mobile POS software solutions and authentication space. The cost of acquisition is ₹2.25 crore, says an announcement by TVSE to the Bombay Stock Exchange.
The acquisition will help the company in offering hardware along with required applications, digital payment and cloud computing software solutions to segments like retail, banks and government.
The indicative time period for completing the acquisition of business rights is on or before October 31, 2022, the announcement said.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.