Xtglobal Infotech Limited announced that it has entered into a term sheet for a proposed acquisition of a business in an entity operating in the IT/ITES sector. The target entity is of moderate scale with operations primarily in the USA.

The proposed acquisition is intended to support strategic growth, business expansion, and operational synergies, aiming to strengthen the company's overall business profile. This transaction does not constitute a Related Party Transaction, and the promoter, promoter group, and group companies have no interest in the target entity. The transaction is proposed to be undertaken at arm's length.

The acquisition is subject to customary conditions, including the completion of due diligence, statutory and regulatory approvals, and the execution of definitive agreements. The consideration for the proposed acquisition is intended to be discharged through cash consideration/Share swap, subject to the finalization of terms. The acquisition is proposed to be completed within approximately three months from the date of the announcement, subject to the aforementioned conditions.

Further details regarding the size and turnover of the target entity, as well as its financial performance for the past three years, are considered commercially sensitive at this stage. The company will make further disclosures as required upon the execution of definitive agreements and/or completion of the transaction.