Onward Technologies has entered into a share purchase agreement with NV Pune Technology Park and acquired 100 percent of the company’s shares and preferred shares.
Accordingly, NV Pune will be the wholly-owned subsidiary of Onward Technologies effective December 1, 2021, Onward Technologies announced in a regulatory filing.
NV Pune is engaged in real estate business including real estate development such as office buildings, techno township, technology parks, software parks, electronics and hardware technology parks, cybercity and info city, etc.
Onward Technologies has acquired 253,750 shares and 27,000 preferred shares of NV Pune at a price of 17,81,99,350 yen.
The entire consideration had been paid in via the Internet banking system (bank), it said.
Own delivery center
Onward Technologies aims to build a dedicated delivery center for offshore businesses serving customers in Europe and the US.
The takeover of NV Pune will lead to the centralization and synchronization of delivery capabilities in one place and a dedicated hub for the transportation and mobility segment.
The acquisition of shares in NV Pune will enable the company to buy the office space in Pune, it said.