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VL E-Governance & IT Solutions Limited (VL E-Governance) has entered into a binding term sheet with Edgewood Ventures LLC, USA for acquisition of 26% equity stake in HAL-Edgewood Technologies Private Limited (HETL).
HETL has developed the next-generation state-of-the-art Mission Computer (OSAMC: Open System Architecture Mission Computer) for military aviation and aircraft. This pioneering product is entirely designed and developed in India and serves as an import substitution product. The OSAMC has been patented under patent No. 302177 and has received approval as a ‘Make-in-India’ product.
HETL is dedicated to the design, development, manufacturing, and promotion of high-tech projects and products, fostering research and development in electronics, software, hardware, and aeronautical systems essential for aviation, aerospace, and satellite projects.
This strategic investment positions the company for future growth in designing, developing, manufacturing, and promoting high-tech projects and products in the fields of electronics, software, hardware, and aeronautical systems necessary for aviation, aerospace, defense, and satellite projects.
Over the years, the company (VLE) has amassed vast experience and strong execution capabilities, enabling it to handle large-scale government projects. Leveraging this experience, the company plans to bid for new large-scale government projects, paving the way for a robust future growth roadmap.
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