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TVS Electronics buys business, intellectual rights of GTID Solutions by offering hardware.
TVS Electronics on August 22, signed a business transfer agreement with GTID Solutions Development.
The agreement was signed in order to enter the mobile POS software solutions and authentication solutions space by offering hardware along with required applications, digital payment solutions, cloud computing software solutions, etc. to segments like retail, banks, and government.
TVS Electronics has acquired the business and Intelectual Property rights of GTID Solutions Development. The cost of acquisition is Rs 2.25 crore.
Signing this agreement, TVS has entered into mobile POS software solutions and authentication solutions space. It will offer hardware along with required applications, digital payment solutions, cloud computing software solutions etc. to segments like retail, banks and government.
TVS Electronics is a leading transaction automation IT product manufacturer and service provider. Its business consists of two revenue segments which are products and solutions and customer support services.
Shares of TVS Electronics Limited was last traded at BSE at Rs. 253.00 as compared to the previous close of Rs. 238.90. The total number of shares traded during the day was 50403 in over 2132 trades.
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