ITANZ Technologies plans Rs4.34bn investment in Australian firm

KARACHI: ITANZ Technologies Limited has announced plans to invest up to Rs4.34 billion in an Australian company as part of its international expansion strategy, according to a material information notice submitted to the Pakistan Stock Exchange (PSX).

The company informed the exchange that its Board of Directors, in a meeting held last week, approved an investment of up to AUD 21.86 million (approximately Rs4.344 billion) in ITANZ Infinity Pty Ltd, an associated company incorporated in Australia, to acquire a 51 percent equity stake.

According to the disclosure, the acquisition will provide ITANZ Technologies with a controlling interest in the Australian entity and is expected to strengthen the company’s international footprint and business operations. The investment is among the largest overseas transactions announced recently by a Pakistani technology company.

The company said the settlement of the investment amount would be made over a period of five years under mutually agreed terms. It further stated that ITANZ Technologies would become entitled to receive dividends from the date of transfer of shares, allowing the company to participate in the earnings of the Australian business immediately following completion of the transaction.

Market participants said the proposed acquisition reflects a growing trend among Pakistani technology firms to pursue international expansion and gain access to overseas markets through strategic investments and acquisitions.

The move is also expected to enhance ITANZ Technologies’ presence in Australia and potentially create new opportunities for revenue growth and technology collaboration.

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