Dev Information Technology Secures Landmark Contract
Dev Information Technology Ltd has clinched a significant contract from Lilikoi Holdings, Inc. valued at approximately Rs 4.41 Crore.
Lilikoi Holdings, Inc., a trailblazing IoT/AI ecosystem provider headquartered in the USA, has awarded its maiden work order worth USD 5.51 lakhs to Dev Information Technology Limited (DEV IT). This milestone comes on the heels of Lilikoi Holdings, Inc.’s recent acquisition of a controlling stake in DEV IT, marking the onset of a transformative alliance.
As per the company’s filing on the BSE, “time period by which the order(s)/contract(s) is to be executed; – approximately – 3-4 Months. g) broad consideration or size of the order(s)/contract(s); – US $ 0.55 million i.e approx. 4.41 Crore h) whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof; – Yes, order received from Promoter group entity on arms length basis.”
The project entails the development of Custom Software tailored to the specific requirements of one of Lilikoi’s subsidiary companies. Furthermore, DEV IT will deploy a dedicated team of over 40 highly skilled professionals to manage, optimize, and fortify the IT infrastructure across Lilikoi’s group and network entities. It is supported by DEV IT’s cutting-edge 24×7 Network Operations Centre.
On Thursday, the shares of Dev Information Technology Ltd closed at Rs 101.45, 0.44 per cent down from the previous day’s closing. The 52 week high and low of the share is Rs 174.10 and Rs 84.15 respectively.
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