ITC Infotech, the technology arm of the tobacco to food major ITC Ltd, has announced the acquisition of a Pune-based cloud service provider for Rs 485 crore.

The company described the acquisition target — Blazeclan Technologies Pvt Ltd — as a ‘born-in-the-cloud’ consulting firm providing cloud services to clients. The deal is expected to close in six to eight weeks, subject to completion of the customary closing conditions.

Established in 2010, Blazeclan has operations in India, Singapore, Australia, Malaysia, the Philippines, New Zealand, Belgium, the US and Canada. The company ended the last fiscal with a turnover of Rs 249.5 crore.

In a statement, ITC Infotech said the acquisition was expected to strengthen the company’s commitment to help clients navigate their digital transformation journey and deliver business outcomes built on the foundation of strong cloud capabilities.

The company proposes to leverage the platforms and accelerators built by Blazeclan and the strong certified architect pool to strengthen its cloud offerings, it added.

The company said the acquisition was aligned with ITC Infotech’s strategy of pursuing value accretive investments focused on sharpening capability-led solutions while strengthening partnerships which form critical pillars of growth for ITC Infotech.

With this agreement, ITC Infotech intends to further deepen its global presence through Cloud Competency Centres in Australia, Singapore, Malaysia, and India.

ITC Infotech India Ltd, which is in the process of building a campus in Calcutta’s Rajarhat, recorded a turnover of Rs 2,673.3 crore and profit after tax of Rs 353.38 crore in FY23. The subsidiary has a target to attain $1 billion in revenue in five years.

Commenting on the proposed transaction, Sudip Singh, managing director and chief executive officer of ITC Infotech, said, “In an evolving ecosystem, enterprises today need to leverage their cloud investments to stay ahead of the curve and deliver higher value to their customers. With the proposed acquisition of Blazeclan, we believe that we will be strongly positioned to step up our clients’ digital transformation journey. This acquisition will not only strengthen our capabilities significantly but also enable us to make scalable progress in the cloud space, while providing access to key opportunities to unlock larger business value for our customers.”

Blazeclan’s founder and chief executive officer Varoon Rajani added: “Blazeclan’s expertise in cloud and modernisation combined with ITC Infotech’s strengths creates a winning formula. This partnership promises excitement and growth for both organisations, our valued partners, customers and dedicated employees.”