Business · 2h ago
Itanz Technologies to Acquire 51% Stake in Australian Tech Firm for AUD 21.9M
Itanz Technologies shareholders approved a AUD 21.857 million investment to acquire a 51% stake in an unnamed Australian tech firm. The deal, valued at roughly Rs. 4.34 billion, marks a cross-border expansion for the Pakistani company. Itanz is listed on the Pakistan Stock Exchange under the ticker ITANZ.
Meridian48 take
The acquisition signals growing ambition in Pakistan's tech sector, but the lack of detail on the target's business raises questions about strategic fit and valuation.
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Itanz Technologies Ltd to Acquire 51% Stake in Australian Tech Firm →
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