Punjab National Bank (PNB) to Deploy Magellanic Cloud’s E-Surveillance Solutions Across 1,000 ATMs Nationwide
Hyderabad (Telangana) [India], August 13: Magellanic Cloud Limited (NSE: MCLOUD | BSE: 538891), today announced that its wholly owned subsidiary, IVIS International Private Limited (IVIS), has secured multiple Purchase Orders from NCR Corporation India Private Limited, comprising both Capex and Opex components, for providing E-Surveillance Solutions across Punjab National Bank (PNB) ATM sites. The Purchase Orders have an aggregate value of approximately ₹18.4 Crore over a period of 5 years.
Strategic Impact & Growth Highlights
- ₹18.4 Crore Order: Multiple Purchase Orders secured from NCR Corporation India Private Limited for E-Surveillance Solutions across PNB ATM sites.
- 1,000 ATM Sites: The deployment covers 1,000 PNB ATM sites, highlighting the scale of the opportunity and IVIS’s execution capabilities.
- BFSI Expansion: The order further strengthens Magellanic Cloud’s footprint in the Banking & Financial Services E-Surveillance space, particularly in large-scale ATM surveillance deployments.
- Large-Scale Deployment Capability: The project reinforces IVIS’s track record in executing scalable, technology-led E-Surveillance deployments across large and distributed banking networks.
- Capex & Opex Components: The Purchase Orders comprise both Capex and Opex components, supporting a broader opportunity across deployment and services.
| Commenting on the development, Mr. Joseph Sudheer Reddy Thumma, Chairman & Managing Director of Magellanic Cloud Limited, said: “BFSI has been a key focus for IVIS over the years, and we have built significant experience in delivering E-Surveillance solutions for banking networks and critical financial infrastructure over the last 1.5 decades. The receipt of these Purchase Orders for E-Surveillance Solutions across Punjab National Bank ATM sites further strengthens this track record and demonstrates our ability to execute scalable, technology-led E-Surveillance deployments across large and distributed networks. We remain focused on leveraging our proven domain expertise, AI-enabled e-surveillance capabilities and pan-India deployment strength to further deepen our presence in the BFSI segment and address the evolving security requirements of financial institutions.” |
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