Pakistan's iTANZ approves Rs4.34bn overseas acquisition
- The settlement of the entire amount shall be made over a period of 5 years
Pakistan's iTANZ Technologies Limited will invest AUD 21.8 million to acquire a 51% stake in Australia-based ITANZ Infinity Pty Ltd, strengthening its IT services portfolio.
- Investment details and payment structure.
- iTANZ Technologies Limited's business evolution.
- Recent corporate merger and history.
Pakistan-based iTANZ Technologies Limited has approved an investment of up to AUD 21,857,641, approximately Rs4,344 million, to acquire 51% stake in Australia-based ITANZ Infinity Pty Ltd, an associated company.
The information was disclosed in a notice to the Pakistan Stock Exchange on Monday.
The Board of Directors took the decision in a meeting held on June 6, 2026, the notice said.
“As per agreed terms, the settlement of the entire amount shall be made over a period of 5 years.
Furthermore, it has been agreed that Itanz Technologies Limited shall be eligible for dividend entitlement from the date of transfer of shares,”the listed company shared.
READ MORE: Pakistan’s iTANZ eyes $45mn tech opportunities through China partnerships
iTANZ Technologies Limited was incorporated in Pakistan as a public limited company in 1990. The company was formerly known as Zahur Cotton Mills Limited.
In March 2025, the Lahore High Court approved the merger of the company and ITANZ Technology Private Limited (ITPL) with effect from October 01, 2023.
After the merger, the company’s principal business activity included software development, installation and implementation as well as other IT-related supplies and services. The company also provides consultancy services in the field of IT.
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