Canarys Automation Restricted (NSE—Canarys), a stalwart in digital transformation, embarks on an bold journey to broaden its horizons throughout continents. The corporate publicizes its strategic intent to amass a controlling curiosity in a distinguished software program companies and consulting enterprise based mostly in North America, marking a big milestone in its international enlargement technique.

With a wealthy legacy spanning over three many years, Canarys has been on the forefront of driving digital innovation. Leveraging its experience in digitalisation, modernisation, cloudification, automation, and intelligence, the corporate has develop into synonymous with delivering cutting-edge options to shoppers worldwide. The proposed acquisition is poised to fortify Canarys’ foothold within the profitable North American market, amplifying its skill to cater to the evolving wants of Fortune 100 companies.

The goal firm, boasting over 20 years of trade prowess, has carved a distinct segment for itself as a trusted advisor to shoppers throughout sectors comparable to Banking, Monetary Companies, Insurance coverage (BFSI), and Prescribed drugs. Canarys’ strategic transfer underscores its unwavering dedication to pursuing development alternatives on a worldwide scale and diversifying its options portfolio to fulfill the calls for of discerning clientele.

This landmark acquisition heralds a brand new chapter in Canarys Automations Restricted’s journey because it ventures into the realm of inorganic development for the primary time. By harnessing the synergies between the 2 entities, Canarys goals to drive innovation, elevate service supply requirements, and ship unparalleled worth to its increasing buyer base. The transaction is contingent upon the profitable completion of due diligence and the execution of definitive agreements.

To finance this transformative acquisition, Canarys plans to utilise a mix of inner sources and debt. The corporate intends to challenge as much as 25,60,973 convertible warrants priced at Rs. 41/- every, with warrant holders having the choice to transform them into 1 Fairness Share at a premium of Rs. 39/- per share inside 18 months, aiming to lift funds of as much as Rs. 10.49 Cr/-. A common assembly is scheduled for Could 13, 2024, to hunt shareholder approval for the proposed preferential challenge.

Canarys stays steadfast in its dedication to delivering worth to its stakeholders, shareholders, and clients alike. This strategic manoeuvre exemplifies the corporate’s imaginative and prescient to determine itself as a worldwide chief in digital transformation, driving innovation and excellence throughout borders.

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Canarys Automations Restricted, headquartered in Bengaluru, India, boasts over 30 years of expertise as a number one IT options supplier. With a staff of over 350 expertise professionals, the corporate specialises in facilitating digital transformation for companies by way of its software program options in Digitalization, Modernization, Cloudification, Automation, and Intelligence. Their companies cater to numerous trade sectors, together with BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, and Insurance coverage, with a major deal with enhancing operations, bettering buyer experiences, and staying aggressive.Recognised for excellence, Canarys Automations has acquired awards comparable to “Chief in DevOps Options,” “Finest DevOps Answer Supplier,” and “Most Progressive DevOps Firm.” They’re a trusted accomplice for companies of all sizes, devoted to serving to shoppers obtain their digital transformation goals. With their trade experience and various vary of options, Canarys Automations is well-equipped to assist companies of their digital transformation journey.

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