GTT Data Solutions Approves Major Acquisitions, Unaudited Q1 Results; Cites Strategic Investments in Tech and InsurTech

GTT Data Solutions Approves Major Acquisitions, Unaudited Q1 Results; Cites Strategic Investments in Tech and InsurTech​

GTT Data Solutions Limited, formerly known as Cinerad Communications Ltd., announced several significant business decisions following its Board meeting on August 13, 2026. The company approved the acquisition of stakes in three key entities: Antworks Solutions India Private Limited (ASIPL), Insurants AI Limited (IAL), and STRATIS Management and IT Consulting Limited Liability Company (STRATIS). Furthermore, the Board reviewed and approved the Unaudited Financial Results for the quarter ended June 30, 2026.

The acquisitions involve a combination of strategic investments and share swaps designed to strengthen GTT Data Solutions' capabilities in AI-driven automation and European market expansion. The company committed to acquiring these stakes through the issuance of its own equity shares.

Key Acquisition Details​

Details of the approved acquisitions are as follows:


The acquisition of ASIPL was completed at a price of ₹ 49/- per equity share. The purchase consideration for ASIPL was discharged through the allotment of 77,54,506 fully paid-up equity shares. For IAL, the company issued 19,04,155 shares at a price of ₹ 49/- per equity share. Regarding STRATIS, the acquisition of 10% was secured through a share swap arrangement involving GTT Data Solutions' equity shares. The remaining 90% stake in STRATIS is planned to be acquired via cash consideration up to EUR 9 million.

Financial Performance and Governance Updates​

The Board also reviewed and approved the Unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026. These results were subjected to a Limited Review Report by M/s Mehta & Mehta, Chartered Accountants.

In corporate governance matters, the Board took note of Mr. Kaushal Uttam Shah, a Director, who is liable to retire by rotation at the ensuing 40th Annual General Meeting and has offered himself for re-appointment.

Several appointments and changes regarding statutory functionaries were approved:

• Internal Auditor: M/s AOK & Associates, Chartered Accountants, was approved as the Internal Auditor of the Company.
• Statutory Auditor Change: The Board took note of the resignation of M/s Mehta & Mehta, Chartered Accountants, as Statutory Auditors, effective from August 13, 2026. Subsequently, M/s N A M M & Associates, Chartered Accountants, were approved for appointment to fill this casual vacancy, holding office until the conclusion of the next Annual General Meeting and for a further five consecutive years thereafter, subject to members' approval.

The company also considered and approved the potential incorporation of a wholly owned subsidiary in Hungary to facilitate investments and acquisitions within the European market. Additionally, the Board entrusted the Managing Director with monitoring product development progress, capitalizing INR 135.99 lakhs incurred for intangible assets under "development in progress" during the quarter.

Stock Price Movement​

GTT Data Solutions Ltd shares settled at ₹50.11 on Thursday, achieving a strong gain of 12.43%. The stock navigated an intraday trading range, bouncing between a low of ₹43.31 and a high of ₹52.90.