Varanium Cloud Limited (NSEI:CLOUD) agreed to acquire Fastway Transmissions Private Limited for INR 26.8 billion on February 15, 2023. The consideration will be paid in cash. Fastway Transmissions Private generated a turnover of INR 11.6 billion in F.Y. 2021-2022.

The Board of Directors of Varanium Cloud approved the transaction. The transaction remains subject to execution of the Share Purchase Agreement and other related definitive documents. The acquisition is expected to be completed before September 30, 2023.