Mumbai: GTT Data Solutions Limited, best known for its proprietary Dual Intelligence solutions combining specialised human expertise and advanced AI-driven technology, today announced key developments from its Board of Directors meeting held on March 3, 2025. These strategic initiatives, including acquisitions, a licensing agreement, and an equity issuance plan, are set to enhance the Company’s capabilities, expand its geographical presence, and drive long-term growth. Helmed by Chairperson Dr. Ganesh Natarajan, GTT Data champions a hybrid AI model that enhances human intelligence rather than replacing it.
The recent integration of Alpharithm Technologies and CRG Solutions is a crucial step in enhancing GTT Data’s capabilities in AI-driven automation, analytics, and digital transformation. These strategic additions will enhance GTT Data’s ability to serve global enterprises with cutting-edge solutions, further strengthening its position in key markets. With Alpharithm’s expertise in research and development of media software, designing and processing computer software and hardware, software consulting, HR solutions, and offshore outsourcing services; and CRG’s specialisation in advanced analytics and enterprise performance enhancement, the company is set to accelerate growth significantly.
The Board has approved entering into definitive agreements to acquire a 100% stake in Alpharithm Technologies Private Limited (India) and Alpharithm Singapore Pte. Limited. Earlier in December 2024, GTT had entered into a definitive agreement to acquire a 100% stake in CRG Solutions Private Limited. The Alpharithm India acquisition, valued at approximately ₹15 crore, will be executed through a mix of cash and equity share issuance, while Alpharithm Singapore, valued at approximately ₹10 crore, is expected to be completed in multiple tranches by June 30, 2025, subject to regulatory approvals.
To facilitate these acquisitions, the Board has approved a preferential allotment of fully paid equity shares worth ₹52.50 crore. This allotment will be utilised to execute the stock swap tranche of both CRG and Alpharithm. The selling shareholders of both target companies will receive GTT Data shares at ₹130 per share.
“These strategic acquisitions and licensing agreements mark a significant milestone in our journey toward becoming a global leader in Dual Intelligence solutions,” said Dr. Ganesh Natarajan, Chairperson, GTT Data Solutions Limited. “By integrating AI-driven automation with human expertise, we are not only expanding our capabilities but also reinforcing our commitment to innovation, talent development, and business transformation. With these expansions, GTT Data intends to expand global footprint and deepen our impact across industries.”
In addition to the acquisitions, GTT has approved a Non-Exclusive License Agreement with Seed Infotech Limited for ₹9 crore. This agreement grants GTT licensing rights to operate and expand its human intelligence business activities, particularly in training youth on data analytics and AI. Further, the Board has sanctioned the issuance of 1,91,61,915 partly paid-up equity shares under the previously announced rights issue to raise ₹49.82 crore. Additionally, as per compliance with Regulation 29 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Board has considered and approved a proposal for the issuance of equity shares and/or convertible securities through preferential allotment, subject to requisite approvals.
By 2030, GTT aims to establish itself as the global market leader in Dual Intelligence solutions.
