Zen Technologies to pick majority stake in TISA Aerospace

New Delhi, Jun 22 (PTI) 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 company did not financial details of the deal.

"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. PTI ANK TRB TRB