https://nsearchives.nseindia.com/corporate/TAC_30092024100215_Regulation_30_Mexico.pdf
Mumbai, September 30, 2024 – TAC InfoSec Limited (Formerly known as TAC Infosec Private Limited) is pleased to announce the successful completion of its acquisition of Sandia IT & Cyber-Security Services LLC, a New Mexico-based cybersecurity services provider. This acquisition has been made through TAC Security Inc., the wholly-owned U.S. subsidiary of TAC InfoSec Limited, thereby establishing Sandia IT & Cyber-Security Services LLC as a step-down subsidiary of the company.
TAC InfoSec Limited first notified the National Stock Exchange (NSE) of India of the acquisition on August 23, 2024, and followed up with additional details on September 3, 2024. The acquisition has now received final regulatory approval from the State of New Mexico, cementing the company’s foothold in the U.S. cybersecurity market, specifically in governmental engagements.
Strategic Importance of the Acquisition
Sandia IT & Cyber-Security Services LLC, incorporated on May 8, 2023, has a reputation as a preferred vendor for the State of New Mexico. The entity provides IT professional services under contractor license #0000178588, offering a streamlined contract process that enables faster and more cost-effective service delivery to New Mexico government agencies. With this acquisition, TAC InfoSec Limited enhances its portfolio, expanding direct engagements with government clients and advancing its global cybersecurity service offerings.
Trishneet Arora, Chairman and CEO of TAC InfoSec Limited, commented on the acquisition:
“This acquisition is a key milestone for TAC Security, allowing us to bolster our U.S. operations and align with government cybersecurity needs. Sandia IT & Cyber-Security Services has been an essential teaming partner, and through this acquisition, we aim to provide seamless, cutting-edge cybersecurity solutions to our government clients.”
Financial and Operational Details
- Cost of Acquisition: The acquisition was completed for a total cash consideration of $25,000.
- Shareholding: TAC Security Inc. has acquired 100% of the shares in Sandia IT & Cyber-Security Services LLC.
- Services: Sandia IT & Cyber-Security Services LLC specializes in providing professional IT and cybersecurity services.
- License and Contract: The acquired entity holds key contracts with the State of New Mexico, valid from February 9, 2024, until February 8, 2028.
The acquisition is fully aligned with TAC InfoSec Limited’s strategic goals of enhancing cybersecurity service capabilities and expanding direct collaborations with government entities across the globe.
