Bartronics India surged 4.07% to Rs 16.89 after announcing plans to acquire a stake in Ventugrow Consultants, an AI and Machine Learning-based investment advisory firm.
Ventugrow Consultants, known for its ‘Jarvis’ brand, offers advanced financial technology solutions to B2B and B2C clients. The company reported revenues of Rs 1.05 crore in FY23 and Rs 1.03 crore in FY22.
Bartronics aims to expand its portfolio into the growing AI and Machine Learning investment sector by securing a 3% equity stake in Ventugrow Consultants and an additional 2% in advisory board equity, totaling 5% in the B2B segment. Additionally, Bartronics plans to acquire a controlling 51% stake in a new Ventugrow Consultants subsidiary.
As the acquisition is in its early stages and subject to due diligence, the company cannot disclose exact details at this time.
Bartronics is an IT services & business solution provider. It primarily focuses on providing Automatic Identification & Data Capture (AIDC) solutions. These solutions involve using technologies like barcode scanning, biometrics, RFID, POS, EAS, and smart cards to capture and process data efficiently.
Net profit of Bartronics India soared 93.48% to Rs 0.89 crore while net sales rose 12.43% to Rs 13.57 crore in Q1 June 2024 over Q1 June 2023.
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First Published: Aug 22 2024 | 3:06 PM IST
