Thursday, July 31, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Investment: Canarys embarks on inorganic growth strategy in North America

Fiinews by Fiinews
April 30, 2024
in Investment
Reading Time: 2 mins read
A A
0
Canarys
0
SHARES
21
VIEWS
LinkedinShare on Twitter

0:00

Bengaluru company resolved to achieve ambitious growth targets

Bengaluru-headquartered Canarys Automations Limited (NSE – Canarys) is set to embark on an inorganic growth strategy by entering into a non-binding agreement to acquire a controlling interest in a distinguished software services and consulting company based in North America.

Bringing over 20 years of industry excellence to the table, the target company has carved a niche as a trusted partner, serving esteemed clients across sectors including Banking, Financial Services, Insurance (BFSI) and Pharmaceuticals.

“This strategic move underscores Canarys’ unwavering commitment to accelerating growth in the North American market and expanding its portfolio of solutions to cater to Fortune 100 companies,” said the NSE-listed group with over three decades of industry experience in digital transformation.

This proposed acquisition marks Canarys Automations Limited’s inaugural venture into acquisitions, highlighting its resolve to achieve ambitious growth targets.

By amalgamating the strengths and expertise of both entities, Canarys aims to foster synergies that will fuel innovation, elevate solution and service delivery standards, and offer enhanced value to customers.

The completion of the transaction is contingent upon due diligence and the execution of definitive agreements. Canarys Automations Limited eagerly anticipates leveraging this acquisition to fortify its market presence, capitalize on new opportunities, and embark on an exciting journey of growth and success.

To facilitate this strategic acquisition, Canarys intends to utilize a blend of internal accruals and debt. The company plans to issue up to 25,60,973 convertible warrants priced at Rs.41/- each, with warrant holders having the option to convert them into 1 Equity Share at a premium of Rs.39/- per share within 18 months, aiming to raise funds of up to Rs.10.49 Cr/-.

An Extraordinary General Meeting is scheduled for 13 May 2024, to secure shareholder approval for the proposed preferential issue, the company said in a release on 30 Apr 2024.

Canarys reaffirms its unwavering commitment to delivering value to its shareholders and stakeholders. This strategic move underscores the company’s dedication to seizing growth opportunities in the dynamic global market landscape.

With a team of over 350 technology professionals, the company specializes in facilitating digital transformation for businesses through its software solutions in Digitalization, Modernization, Cloudification, Automation, and Intelligence. Fiinews.com

Tags: Canarys
ShareTweetShare

Related Posts

Sidbi
Investment

Invest: 3 flagship funding schemes launched

by Fiinews
July 27, 2025
0
15

Minister updates Rajya Sabha on FFS, SISFS and CGSS The Government is implementing three flagship Schemes, namely, Fund of Funds...

Netrasemi
Investment

Netrasemi gets VC investments of ₹107 cr

by Fiinews
July 25, 2025
0
14

Invest: Netrasemi raised Rs.107cr from making chips Netrasemi, a startup supported under the government’s chip design scheme, has received Venture...

Adia

Invest: ADIA takes stake in expansion-mode Meril

July 22, 2025
19
SRM University-AP, Amaravati.

Invest: CM highlights green hydrogen prospects

July 22, 2025
22
QpiAI

Invest: NQM backs QpiAI in $32m Series A

July 18, 2025
15
Jupiter Wagons

Invest: Jupiter commits Rs.3,000cr to rail projects

July 15, 2025
23
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: Saviynt goes regional from India
  • Market: Connext expands to East Asia
  • Market: Prodapt expands Alberta operations
  • Tech: AgentRise for shifting AI-native operations
  • Market: India-US partnership for AI-enable discovery

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.