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PNN
Mumbai (Maharashtra) [India], March 11: Dev Information Technology Limited,(NSE - DEVIT, BSE - 543462 | INE060X01034), a global IT services company providing AI, Cybersecurity, Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services, with products like AI enabled Talligence and ByteSigner, has announced that XDuce has acquired a strategic stake of approximately 24% in the company to strengthen its AI, Cybersecurity and global footprint. This strategic investment establishes a long-term alignment aimed at accelerating global digital transformation business while preserving the independent operations and identity of both organizations. The investment is designed to deepen collaboration between XDuce and DEV IT, combining XDuce's client relationships and market leadership in North America with DEV IT's large-scale engineering capabilities and global delivery infrastructure, enabling enterprises and SMBs to design, build, and deploy modern digital systems faster. Complementary Strengths Driving Global Growth The alliance will serve as a high-velocity catalyst for global growth, prioritising a robust physical presence and diversified revenue streams as the collaboration brings together complementary strengths: - XDuce: Incorporated in the US and UK with a long physical presence across North America, with strong consulting-led engagements focused on AI innovation, Cybersecurity, digital engineering, strong presence in BFSI, healthcare, education, and public services sectors. - DEV IT: Strong offshore delivery capabilities backed by robust governance, engineering expertise focused on emerging technologies, and cost-efficient scalable execution. Ensuring Continuity and Operational Stability The strategic collaboration has been structured to ensure continuity and stability for customers, partners, and employees. Existing management teams at both XDuce and DEV IT will continue in their current roles, with no structural changes to the organizations, and business operations will continue without disruption. Focus on Next-Generation Digital Technologies Looking ahead, XDuce and DEV IT will jointly focus on high-growth, next-generation digital transformation technologies, including: - Artificial Intelligence - Blockchain - Cloud - Cybersecurity - Data & Analytics - Data Centre Operations - Enterprise Digital Platforms Creating Long-Term Value for Stakeholders This alliance creates a unique "Best of Both Worlds" scenario for all stakeholders. For clients, it offers access to end-to-end IT services, a broader talent pool and 24/7 global delivery cycles. For internal operations, integrating XDuce's market reach with DEV IT's proven technical execution eliminates traditional offshore barriers, ensuring high-velocity project success. Ultimately, this strategic move strengthens the balance sheet, increase enterprise level customers, and provides a clear path to becoming a top-tier global IT player, uniquely positioned to dominate high-growth sectors and deliver superior digital outcomes worldwide. About XDuce: Headquartered in Edison, New Jersey, XDuce(www.xduce.com) is a technology-led global ecosystem focused on AI innovation, digital engineering, and enterprise platforms. For more than two decades, XDuce has helped organizations design and deliver modern technology systems across industries, including financial services, the public sector, education, and regulated enterprises. With a strong team of expert IT professionals, XDuce is a trusted leader in business transformation and strategic consulting. Commenting on the development, Mr. Jay Dave, Founder, XDuce, said: "Our strategic investment in DEV IT reflects a shared vision to build a stronger global digital transformation platform especially on AI & Cybersecurity. With our established presence across North America and the UK, and deep relationships across sectors such as BFSI, healthcare, education, and the public services sectors, we see strong synergy with DEV IT's engineering capabilities and global delivery strength. Together, we aim to accelerate our geographic expansion, multifold our client base, to help enterprises accelerate the design and deployment of modern digital systems at scale." Mr. Pranav Pandya, Chairman, Dev Information Technology Limited, added: "This strategic alignment with XDuce marks an important milestone in DEV IT's global growth journey. XDuce's strong presence in North America and the UK, combined with their enterprise relationships across key sectors, provides us with enhanced market access and new growth opportunities. By combining their consulting-led engagements with our scalable engineering and delivery capabilities, we are well positioned to accelerate digital transformation initiatives for clients worldwide especially in AI, Cybersecurity and MS Enterprise solutions and also expecting to improve margins." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
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