Magellanic Cloud Restricted, an NSE and BSE-listed expertise options, e-surveillance providers, and drone firm, has mentioned it is going to invest over ₹300 crore on buying a US-based expertise firm and 4-5 smaller corporations in 2025-26.
“We’re within the closing phases of closing a deal to purchase a US-based firm for about ₹200 crore. We hope to full the deal by Could 2025. We will likely be buying 4-5 smaller corporations to broaden the service choices, shopper base and geographical presence,” Joseph Sudheer Thumma, Managing Director and International CEO of Magellanic Cloud Ltd, has mentioned.
He mentioned the acquisition of the US firm would use ₹100 crore from inner accruals and lift the remainder by means of a preferential or QIP situation quickly.
“We’re a development of 15-20 per cent within the next monetary yr. With doubtless acquisitions next yr, we expect a nonetheless larger development charge for 2025-26 with the assistance of contribution from the businesses that we are going to purchase,” he mentioned.
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The corporate reported a internet revenue of ₹29 crore within the third quarter ended December 31, 2024, as in opposition to ₹22.56 crore within the comparable quarter earlier yr. For the complete yr, it registered a income of ₹560 crore.
He mentioned the corporate would hire over 3,400 employees over the next two years, taking the full variety of employees to about 5,000 employees from the current degree of 1,600 employees.
Addressing a press convention right here on Monday, he mentioned the corporate bagged $10 million price AI/Generative AI orders.
He mentioned the corporate’s drone subsidiary Scandron produced over 17 merchandise for logistics, surveillance, and agriculture sectors. It just lately launched a cargo drone, which might carry a payload of 200 kg.
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