Praruh Technologies Limited has made a disclosure to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company has entered into a partnership agreement with International Business Machines Corporation (IBM). IBM is described as one of the world's oldest and most established technology companies, tracing its roots to 1911 in the United States. The company was originally formed as the Computing-Tabulating-Recording Company (CTR) and adopted the name IBM in 1924.
IBM's historical focus includes enterprise computing, mainframe systems, data processing, storage, and business software, with later expansion into IT services and consulting. The company's current primary focus areas include Hybrid cloud, Artificial Intelligence, Automation, Cybersecurity, Enterprise Infrastructure, Software, and Consulting. IBM's consulting business works with organizations worldwide to modernize applications and infrastructure, migrate to cloud environments, improve security, automate operations, and implement AI-driven solutions. IBM is also known for technologies and platforms including IBM Z mainframes, Red Hat, and watsonx AI.
The partnership arrangement was entered into in the ordinary course of business and on an arm's length basis. The disclosure specifically states that there is no promoter/promoter group interest in IBM in relation to this arrangement.
Financial impact not quantified in the disclosure.