Zen Technologies buys 51.98% of Cogknit Semantics for ₹135.15cr
Zen Technologies announced they are picking up a 51.98% stake in Bengaluru's Cogknit Semantics for ₹135.15 crore.
This move will turn Cogknit into a Zen subsidiary once the transaction is completed, subject to customary closing conditions, with some backing from investor Ashish Kacholia.
The deal is set to be funded through both new investment and buying existing shares.
Cogknit BMS joins Zen's Samvid
Cogknit is behind a battlefield management system (BMS) that links up tanks, vehicles, and soldiers for real-time coordination, already tested out with the Indian Army.
Zen plans to plug this tech into its own AI platform Samvid to boost battlefield awareness.
Even after the buyout, its founding team will continue to lead it.
Zen shares up 21.6% this year
Despite a small dip last month, Zen's shares are actually up 21.6% this year, showing investors are pretty optimistic about these new moves and future tech upgrades.