Canarys Automations Limited — Board Meeting, 31-10-2024: Outcome of Board Meeting

Canarys Automations Limited has approved the acquisition of a 51% stake in Fortira Inc., USA, from its promoters for $2.55 million, with an option to acquire the remaining 49% within three years. Additionally, the company will revise its IPO fund utilization, reallocating some unspent proceeds for this strategic investment. The acquisition aims to enhance Canarys' presence in North America, with expected completion by March 31, 2025.