Update on acquisition of Alpharithm Technologies Private Limited.
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GTT Data Solutions Ltd has completed the full acquisition of Alpharithm Technologies Private Limited, buying 100% of its equity share capital. The deal was carried out through a share swap arrangement, meaning GTT issued its own shares to the sellers of Alpharithm instead of paying cash. The share purchase agreement was originally signed on March 3, 2025, and the transaction was formally completed on May 5, 2025. The company had previously filed the detailed terms of this acquisition with the exchanges, and this filing is just an update confirming the closing. Alpharithm is now a wholly-owned subsidiary of GTT Data Solutions.
This is a fully consummated acquisition, so shareholders should expect dilution from the share swap and will now see Alpharithm's business and financials consolidated into GTT's results going forward. The deal's success or failure will depend on how well Alpharithm's technology business performs under the new parent.