Zen Technologies, a defence training and anti-drone solutions provider, to acquire a majority stake in TISA Aerospace, a defence technology company specializing in indigenously developed loitering munitions and unmanned aerial vehicles (UAVs).
The acquisition will be executed through a combination of share purchase from existing shareholders of TISA and the acquisition of compulsorily convertible debentures (CCDs) from existing holders issued by TISA.
Founded in December 2020 by Kiran Kumar Vagga, TISA Aerospace is dedicated to the design, development, and manufacture of advanced loitering munitions and UAVs tailored for defence applications. The company has successfully delivered loitering munitions meeting DRDO specifications and is developing new variants for the Indian Army.
Ashok Atluri, Chairman and Managing Director of ZenTechnologies, said, “This acquisition is a decisive step towards strengthening Zen’s position in the rapidly evolving defence drone sector. TISA’s expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio. This move is well-aligned with India’s urgent need for self-reliance in defence capabilities, particularly in drones and loitering munitions. We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets.”
