Magellanic Cloud plans ₹300 crore investment for U.S. and smaller firm acquisitions

thehindu.com

Magellanic Cloud plans to invest ₹300 crore this financial year to acquire a U.S. firm for ₹200 crore and 4-5 smaller firms for ₹100 crore. The U.S. firm operates in the IT and ITeS sector and has a presence in India. The acquisitions aim to expand Magellanic Cloud's geographical reach and technology offerings. The company is also looking to enter new markets, including Japan. Additionally, Magellanic Cloud will invest ₹200 crore in expanding its existing businesses, including drone manufacturing and e-surveillance services. The workforce is expected to grow from 1,600 to 5,000 by FY27.


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Magellanic Cloud plans ₹300 crore investment for U.S. and smaller firm acquisitions | News Minimalist