Elpro International Limited has made a strategic acquisition by purchasing 72,843 Compulsorily Convertible Cumulative Preference Shares of CXIO Technologies Private Limited for a total value of INR 49.99 crores. This acquisition marks a significant move for Elpro as it diversifies its investment portfolio and expands its reach into the IT services sector.



CXIO Technologies is a rapidly growing company, recognized for its expertise in providing IT solutions. The company operates in various fields, such as hyperscaler partnerships with platforms like AWS, Azure, GCP, and Oracle, along with offering cloud storage services, cloud managed services, DevOps, and cloud security solutions. It serves notable OEMs such as Akamai, Hitachi, and Palo Alto.

The financials of CXIO Technologies demonstrate a promising trajectory, with a revenue of INR 243.23 crores in FY 2023-24, compared to INR 170.50 crores in FY 2022-23, and INR 73.27 crores in FY 2021-22. This significant growth showcases CXIO's strength in the market and its increasing demand for cloud-based and IT infrastructure solutions.

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