Zen Technologies Expands Arsenal with TISA Aerospace Acquisition
Zen Technologies has announced the acquisition of a majority stake in TISA Aerospace Pvt Ltd, enhancing its capabilities in defence technology. The deal, approved by the Board of Directors, includes purchasing shares and acquiring convertible debentures, though financial details remain undisclosed.
- Country:
- India
Defense training and anti-drone solutions provider Zen Technologies has announced its acquisition of a majority stake in TISA Aerospace Pvt Ltd, a firm known for indigenous development of loitering munitions and unmanned aerial vehicles.
While the financial details of the deal remain undisclosed, Zen Technologies assured that the acquisition was unanimously approved by the Board of Directors.
The transaction will be completed through a combination of share purchases from existing TISA shareholders and acquisition of compulsorily convertible debentures previously issued by TISA.
(With inputs from agencies.)
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