New Delhi: Defence training and anti-drone solutions provider Zen Technologies on Sunday announced the acquisition of a majority stake in TISA Aerospace Pvt Ltd, a defence technology company specialising in indigenously developed loitering munitions and unmanned aerial vehicles.
“The Board of Directors has unanimously approved the acquisition, which will be executed through a combination of share purchase from existing shareholders of TISA and acquisition of compulsorily convertible debentures (CCDs) from existing holder issued by TISA,” the company said in a regulatory filing.