Security firm SIS Limited has announced the acquisition of additional 2.36% stake in Staqu Technologies Private Limited. Post this acquisition, the company will hold 10.01% stake in the company.
According to the company’s exchange filing, “we wish to inform you that the Company has signed Share Purchase Agreement for acquisition of additional 2.36% shareholding in Staqu Technologies Private Limited. With this, the cumulative shareholding to be acquired by the Company in Staqu will be 10.01%.”
Staqu was incorporated on June 16, 2015 in New Delhi, India and founded by the cofounders, i.e., Mr. Anurag Saini, Mr. Atul Rai and Mr. Pankaj Sharma. It is primarily a video management platform company. Its product called JARVIS (Joint AI Research for Video Instances & Streams) is an AI tool in video analytics and video management solutions that helps its customers. JARVIS works on cloud & on the Edge and on both digital & analog cameras, the statement said.
“Video analytics-based security solutions are expected to transform the security industry worldwide and the Company, to keep pace with this transformative trend, proposes to invest in such strategic capabilities,” the exchange filing said.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.