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IRIS Business Services Ltd. ( (IN:IRIS) ) just unveiled an update.
IRIS Business Services announced an agreement to divest its Tax Technology (GST) ASP business to Sovos for INR 1512.4 million. This move is part of IRIS’s strategy to simplify its operations and focus on the global RegTech market, using the transaction proceeds to fund growth in other business lines. The divestiture is expected to enhance shareholder value and provide non-dilutive capital for expansion. The transaction, which includes the transfer of products, customers, and employees, is anticipated to close in August 2025, pending shareholder approval.
More about IRIS Business Services Ltd.
IRIS Business Services is a global RegTech company that provides solutions to regulators, enterprises, and financial institutions worldwide.
Average Trading Volume: 6,787
Current Market Cap: 6.54B INR
Learn more about IRIS stock on TipRanks’ Stock Analysis page.