Virtual Galaxy Infotech Signs Software Development Agreement with Botswana Development Corporation
Virtual Galaxy Infotech Limited, which was previously known as Virtual Galaxy Infotech Pvt. Ltd., has entered into a Software Development Agreement with the Botswana Development Corporation Limited, Botswana. The agreement, which falls within the ordinary course of business for the Company, is expected to boost its international market presence.The contract has a specified value of USD 1,099,000 (United States Dollars One Million Ninety-Nine Thousand only), excluding applicable taxes.
The agreement details highlight that the tenure for the contract is set for forty eight (48) months from the commencement date. The scope of work is comprehensive, covering the entire lifecycle of a delivered software solution.
Key Contract Details
The transaction involves an international entity and covers a Software Development Agreement. The services under the agreement include the supply, implementation, licensing, maintenance, and support of the developed software solution. The scope further encompasses integration with third-party systems, comprehensive testing, employee training, routine maintenance services, and disaster recovery services.The material details of the agreement are summarized below:
| Detail Category | Particulars |
|---|---|
| Counterparty | Botswana Development Corporation Limited, Botswana |
| Nature of Agreement | Software Development Agreement |
| Total Consideration | USD 1,099,000 (excluding applicable taxes) |
| Contract Tenure | 48 months |
| Scope of Services | Supply, implementation, licensing, maintenance, and support of a delivered software solution, including integration, testing, and disaster recovery services. |
| Origin | International Entity |
| Related Party Status | No |
VGINFOTECH Stock Price Movement
Shares of Virtual Galaxy Infotech Limited are edging higher to ₹154.55 as of 9:29 AM today, pushing gains of 2.96%. The stock is demonstrating fresh buying interest, trading on a brisk volume of 8,000 shares.Source:
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