Transaction Details
IVIS International Private Limited, a wholly owned subsidiary of Magellanic Cloud Limited, has secured multiple purchase orders from NCR Corporation India Private Limited for providing E-Surveillance Solutions across Punjab National Bank (PNB) ATM sites.
Financial Details
- Order Value: ₹18.4 Crore
- Contract Duration: 5 years
- Components: Both Capex and Opex components included
Operational Details
- Deployment Scale: 1,000 PNB ATM sites nationwide
- Solution Type: E-Surveillance Solutions
- Client: Punjab National Bank (PNB)
- Counterparty: NCR Corporation India Private Limited
Strategic Context
The order strengthens Magellanic Cloud's footprint in the Banking & Financial Services E-Surveillance space, particularly in large-scale ATM surveillance deployments. The company highlights its execution capabilities for scalable, technology-led E-Surveillance deployments across large and distributed banking networks.
Management Commentary
Mr. Joseph Sudheer Reddy Thumma, Chairman & Managing Director, stated that BFSI has been a key focus for IVIS over the years with 1.5 decades of experience in delivering E-Surveillance solutions for banking networks and critical financial infrastructure. He emphasized the company's AI-enabled e-surveillance capabilities and pan-India deployment strength to address evolving security requirements of financial institutions.