Zensar Technologies Ltd.

Zensar Technologies has entered into an agreement with Service Express LLC to divest its global Third Party Maintenance (TPM) business. This is in line with the company's commitment to focus on and invest in its core businesses which comprised 96 % of its revenues as on Q1FY21.

As part of its long-term strategy, Zensar had identified two non-core businesses, comprising Rest of the World (RoW) business and the TPM business. It had divested the RoW business last year and is now divesting the TPM business. Under the terms of the transaction, Zensar’s TPM business will be transferred to Service Express, a leading TPM service provider headquartered in the US, by way of a 100% share sale of Zensar’s equity shareholding in PSI Holding Group Inc., a wholly owned subsidiary of Zensar Technologies Inc. The closing of the transaction is subject to approval by shareholders of Zensar Technologies.

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.