iTANZ Technologies Limited has approved an investment of up to AUD 21.86 million, equivalent to approximately Rs. 4.34 billion, to acquire a controlling 51 percent stake in Australia-based ITANZ Infinity Pty Ltd as part of its international expansion strategy.
The decision was approved by the company’s Board of Directors during a meeting held on June 6, according to a notice submitted to the Pakistan Stock Exchange on Monday.
Under the agreed terms of the transaction, 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. The company did not disclose additional details regarding the expected timeline for completion of the transaction.
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, with effect from October 1, 2023. Following the merger, the company’s principal activities include software development, technology implementation, IT consultancy, and the provision of a range of technology related products and services.
