Zen Technologies Expands with TISA Aerospace Acquisition

Zen Technologies, a leader in defence training and anti-drone solutions, announced its acquisition of a majority stake in TISA Aerospace Pvt Ltd on Sunday. TISA specializes in developing indigenous loitering munitions and unmanned aerial vehicles.

The specifics of the deal, such as total investment figures, remain undisclosed at this time. However, it's known that Zen Technologies has structured the acquisition through a purchase of shares from TISA's existing shareholders coupled with the acquisition of compulsorily convertible debentures issued by TISA.

According to a regulatory filing, the move received unanimous approval from Zen Technologies' Board of Directors, highlighting the company's strategic expansion in the defence technology sector.

(With inputs from agencies.)