Dev Information Technology Limited has informed the Exchange regarding a revised press release dated March 11, 2026, titled "Intimation regarding revised press release".
DEVIT · price
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US and UK-based technology firm XDuce has acquired approximately 24% strategic stake in Dev Information Technology (DEVIT), a Gujarat-headquartered IT services company listed on NSE and BSE. The deal is structured as a long-term strategic alignment to combine XDuce's North American client base and consulting-led engagements with DEVIT's offshore engineering and delivery capabilities, targeting high-growth areas like AI, Cybersecurity, Cloud, and Blockchain. Management at both companies will continue unchanged, and operations will remain independent. For FY25, DEV IT reported total income of ₹1,839.09 Mn, EBITDA of ₹237.18 Mn, and net profit of ₹147.80 Mn. The Chairman indicated that the alliance is expected to help improve margins and accelerate global expansion.
A 24% strategic stake by an established North American IT player is a significant event for a small-cap company, potentially unlocking access to enterprise clients in BFSI, healthcare, and the public sector, while strengthening the balance sheet. For shareholders, this could be viewed positively as it brings global scale, margin improvement prospects, and a clear growth runway, though the exact deal valuation and financial terms have not been disclosed.