Zensar Technologies’ wholly owned subsidiary -- Zensar Technologies Inc. has received approval from board to divest 100% of its equity shareholding, held by it in Aquila Technology Corp, subject to approval of relevant statutory, regulatory and/or governmental authority, as may be required. The board of directors at its meeting held on February 25, 2021 has approved the same.
Zensar Technologies Inc. holds 100% of equity in Aquila Technology Corp (Aquila). PSI Holding Group Inc (PSI) a wholly owned subsidiary of Zensar Technologies Inc. was holding 100% of equity in Aquila till October 31, 2019. Effective November 2019, PSI distributed the stock of Aquila to Zensar Technologies Inc., pursuant to which Zensar Technologies Inc. holds 100% of equity in Aquila.
Zensar Technologies, formerly known as ICIL was acquired by the RPG group in 1989. It is a globally focused software and services company spread across eighteen countries across the world.
