Intending to cash in on the rapid adoption of digital services, Ahmedabad-based technologies services provider Yudiz Solutions has announced that it is focusing on expansion and acquisition and plans. According to an exchange filing, the board of directors of the company has approved the incorporation of a subsidiary by making a strategic investment in ‘Insightly Dataworks
Private Limited’ or ‘Data Works Private Limited’.

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"Incorporation of Subsidiary by making a strategic investment in ‘Insightly Dataworks Private Limited’ or ‘Data Works Private Limited’ or such other name as may be approved by the Registrar of Companies ("the Investee Company") by acquiring and/or subscribing to the membership interest, equivalent to 51% or more of the Investee Company" the company said in a regulatory filing.

Yudiz Solutions will subscribe 51 per cent stake in the proposed company and said that no governmental or regulatory approval will be required for the acquisition.

The move will help Yudiz Solutions to strengthen, leverage and get market access through the target company's network and existing business  

Yudiz Solutions, incorporated in 2012 and mainly engaged in the AI and gaming sectors, went public in August this year. It had fixed the price band of the issue at Rs 162-165 per equity share, aggregating to Rs 44.84 crores. The firm had said that it would use the net proceeds from the public offer to meet expenses required for acquisitions, development of new products and technologies, branding and marketing purposes among others.

Notably, India under the current dispensation has advanced from being a country of data proliferation to creating a technology infrastructure. This has immensely contributed to accelerating the overall growth. Both public and private sectors are exploring the potential of technology and ways to leverage it.

There is a growing number of AI businesses and innovation centres that focus on studying, creating and implementing its use across domains.