Ace Software hits the roof on inking LoI to establish joint venture

The primary objective of the proposed joint venture is to collaborate in the fields of technology and engineering to provide high-quality IT services and solutions to engineering industries in Europe.

The joint venture will focus on engineering services, artificial intelligence (AI), machine learning (ML), data services, and cloud solutions.

The said collaboration aims to expand the company's presence in Europe through the JV partnership, enabling the marketing of the company's services across the European region.

Additionally, this JV will support all of the company's subsidiaries in expanding their footprint in the European market, including SmartPPS (a premium product for engineering production planning and control) to be developed by AQE Techtools, a wholly owned subsidiary of the company.

Ace Software Exports is mainly engaged in the business of database creation.

The company's consolidated net profit jumped 34.69% to Rs 1.32 crore on 195.45% zoomed in revenue from operations to Rs 5.85 crore posted in Q2 FY25.

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