iTANZ Technologies Limited (PSX: iTANZ) has approved an investment of up to AUD 21.86 million (approximately Rs4.34 billion) to acquire a controlling 51% stake in Australia‑based ITANZ Infinity Pty Ltd, marking a major step in the company’s international expansion strategy. The decision was approved by the Board of Directors during a meeting held on June 6, 2026, according to a notice submitted to the Pakistan Stock Exchange.
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| Transaction Detail | Information |
|---|---|
| Acquirer | iTANZ Technologies Limited (PSX: iTANZ) |
| Target | ITANZ Infinity Pty Ltd (Australia) |
| Stake Acquired | 51% (controlling interest) |
| Consideration | AUD 21.86 million (~Rs4.34 billion) |
| Payment Terms | Full amount over five years |
| Board Approval Date | June 6, 2026 |
| Dividend Entitlement | From share transfer date |
Strategic International Expansion
Under the agreed terms, iTANZ Technologies will settle the full acquisition amount over five years. The company also confirmed that it will be entitled to receive dividends from the date the shares are transferred. The acquisition will strengthen iTANZ Technologies’ presence in international markets and further expand its operations through its associated Australian business.
Corporate Transformation
iTANZ Technologies was incorporated as a public limited company in Pakistan in 1990 and was previously known as Zahur Cotton Mills Limited. The company underwent a major transformation after shifting its focus from the textile sector to information technology and digital services.
In March 2025, the Lahore High Court approved the merger of iTANZ Technologies Limited with ITANZ Technology Private Limited, effective from October 1, 2023. Following the merger, the company’s principal activities include:
- Software development
- Technology implementation
- IT consultancy
- Provision of a range of technology‑related products and services
About iTANZ Technologies Limited
iTANZ Technologies Limited (PSX: iTANZ) is a Pakistani public limited company that has successfully transitioned from textile manufacturing to a technology‑focused enterprise. The company provides software development, IT consultancy, and digital services, with a growing focus on international markets.
About ITANZ Infinity Pty Ltd
ITANZ Infinity Pty Ltd is an Australia‑based technology firm that will become a subsidiary of iTANZ Technologies following the acquisition. The acquisition is expected to enhance iTANZ’s global footprint and operational capabilities.
