VL E-Governance & IT Solutions Ltd.

VL E-Governance & IT Solutions has entered into a binding term sheet with Edgewood Technologies, Bangalore on October 9, 2024 for acquisition of 14% equity stake in HAL-Edgewood Technologies (HETL). This is a strategic investment for future business growth opportunities and leveraging the technology know-how. The transaction is expected to be completed within 12 month.

Earlier, the company has also entered into a binding term sheet with Edgewood Ventures LLC, USA for acquisition of 26% equity stake in HETL. Post completion of both these binding term sheets, the company shall hold 40% equity stake in HETL subject to regulatory and requisite approvals.

VL E-Governance & IT Solutions’ Business includes E-governance services, IT/ITES System Integration services, B2B Trading business and IT/ITES equipment trading activities. Company has been One of India’s largest e-Governance player functioning as a systems integrator and end-to-end service provider for various e-Governance projects.