Strategic investment to promote high-tech projects-products
VL E-Governance & IT Solutions Limited (VL E-Governance – BSE: 543958 – NSE: VLEGOV) has entered into a binding term sheet with Edgewood Ventures LLC, USA, for acquisition of 26% equity stake in HAL-Edgewood Technologies Private Limited (HETL), an Indian-US joint venture hal-india .
“This is a strategic investment for the future growth opportunities in the Business of design, develop, manufacture or promote high-tech projects/products in the field of electronics, software, hardware and aeronautical system required for Aviation, Aerospace, Defense and Satellite projects,” vlegovernance said on 22 July.
HETL was set-up in 2007 as a Joint Venture of Hindustan Aeronautics Limited (HAL), in collaboration with Edgewood Ventures LLC, USA, and Edgewood Technologies Private Limited, Bangalore, India. HETL has developed next-generation state-of-art Mission Computer (OSAMC: Open System Architecture Mission Computer) for Military Aviation / Aircraft.
The first product in its category and completely designed & developed on Indian soil. It is also an import substitution product. The product Mission Computer (OSAMC) has been patented vide patent No. 302177 and received approval under ‘Make-in-India’ products cii .
HETL is engaged in the business of design, develop, manufacture or promote high-tech projects/products to carry on the business and promote research design and development in the field of electronics, software, hardware and aeronautical system required for aviation, aerospace and satellite projects ficci.
VLE has over the years built vast experience and strong execution capabilities to execute large scale field level Government projects. The company shall leverage this experience and plans to Bid for New upcoming large scale Government projects, thereby enabling strong future growth roadmap nasdaq .
VL E-Governance & IT Solutions Limited Business includes E-governance services, IT/ITES System Integration services, B2B Trading business and IT/ITES equipment trading activities. The company has been One of India’s largest e-Governance player functioning as a systems integrator and end-to-end service provider for various e-Governance projects phdcci .
HETL has developed next-generation state-of-art Mission Computer (OSAMC: Open System Architecture Mission Computer) for Military Aviation / Aircraft. The first product in its category and completely designed & developed on Indian Soil. It is also an import substitution product nyse . The product Mission Computer (OSAMC) has been patented vide patent No. 302177 and received approval under ‘Make-in-India’ products. Fiinews.com
