GTT Data Solutions expands AI capabilities with dual acquisitions

GTT Data Solutions Limited (formerly Cinerad Communications Ltd.) has approved the acquisition of 100% stake in Antworks Solutions India Private Limited and Insurant AI Limited through share swap arrangements. Antworks, a global leader in Intelligent Document Processing, was valued up to INR 700 million, while Insurant AI, an AI-powered service provider to the insurance sector in the US and UK, was valued up to $1.80 million. Both acquisitions aim to strengthen GTT Data's AI, digital transformation, and InsurTech capabilities, expanding its sector-specific offerings and cross-selling opportunities.

The acquisitions are subject to regulatory approvals and the execution of share purchase agreements, with completion expected by March 31, 2026. This strategic move aligns with GTT Data's core business in IT and digital transformation services.

In conjunction with these acquisitions, the company also approved an increase in its authorized share capital from Rs. 65 crores to Rs. 70 crores, divided into 70,000,000 equity shares of Rs. 10/- each, and a consequent alteration of its memorandum of association. The company also reported unaudited financial results for the half-year ended September 30, 2025, which indicate a loss. Consolidated total assets stood at INR 14,912.52 lakhs, with total revenues of INR 6,257.88 lakhs and a net loss after tax of INR (520.48) lakhs for the half-year ended September 30, 2025.