Dev Information Technology Limited has informed the Exchange regarding a press release dated March 11, 2026, titled "Intimation Regarding Press Release".
DEVIT · price
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US/UK-based technology firm XDuce has acquired approximately 24% strategic stake in Dev Information Technology (DEV IT), an Ahmedabad-headquartered global IT services company listed on NSE (DEVIT) and BSE (543462). The deal is aimed at combining XDuce's North American consulting-led client relationships in BFSI, healthcare, education and public sector with DEV IT's large-scale engineering and offshore delivery capabilities to build a global digital transformation platform focused on AI, Cybersecurity, Cloud, Blockchain, and Data Analytics. Both companies will retain their independent operations and existing management, with no structural changes. For reference, DEV IT reported FY25 Total Income of ₹1,839.09 Mn, EBITDA of ₹237.18 Mn, and Net Profit of ₹147.80 Mn.
A 24% strategic stake sale is a significant equity dilution for existing shareholders, but brings a strong global partner with North American market access and enterprise relationships, potentially driving revenue growth and margin improvement. The stock is likely to react positively given the credibility of the buyer, the global expansion angle, and the promise of margin uplift highlighted by the Chairman.