IVIS and Provigil are AI/ML and IoT technology enabled e-surveillance companies engaged in the business of providing monitoring and surveillance services to prevent theft, vandalism and real-time deviation detection as well as business and operational insights for properties/assets. Magellanic Cloud is a holding company invested in entities offering cloud solutions, IT services, and advanced drone technology.
Magellanic Cloud announces its strategic acquisition of IVIS and Provigil
Magellanic Cloud has acquired 100% shares of IVIS International Private Limited, 100% shares of Provigil Surveillance Limited, subject to completion of closing conditions as specified in the Share Purchase Agreement (SPA), by way of cash consideration approximate of INR.290,27,93,405 and INR 35,97,00,000 respectively. This acquisition will add electronic surveillance to Magellanic Cloud’s portfolio and will help expand its security solutions to enterprises.
Magellanic Cloud works in the digital space and is at the forefront of providing innovative technology solutions to a gamut of industries. They have tie-ups with multiple brands and have offices in multiple locations in Asia, Europe, and the USA. Magellanic Cloud aims at providing quality software solutions for organizations that help accelerate their growth and resolve complicated issues.
IVIS and Provigil, AI/ML and IoT technology enabled e-surveillance companies, were started by a group of entrepreneurs who had experience in the Network and Surveillance domain in the US/UK/Canada. Their mission was to provide state-of-the-art technology that provides e-surveillance systems which prevents theft, vandalism, compliance checks & deviations, business, and operational insights. They have been providing these services to several leading brands. The company is already serving over 20,000 sites in India.
SOURCE: Magellanic Cloud
About Berkery Noyes
Berkery Noyes is an independent investment bank that provides M&A advisory to companies in the software, services, information, and technology industries. The firm offers skilled transaction management to publicly traded and privately held businesses and private equity groups in both sell-side and buy-side transactions. Berkery Noyes has managed over 500 transactions, ranging from several million to more than four billion dollars in value.
For more information about Berkery Noyes, visit www.berkerynoyes.com.
For more information about IVIS, visit ivis.net.
For more information about Magellanic Cloud, visit magellanic-cloud.com.