Mahindra & Mahindra Invests Canadian Data-Driven Farming Company
Mahindra and Mahindra (M&M) came to terms with Canadian IT firm Resson Aerospace Corporation in a share subscription agreement to acquire 10 per cent of its share capital for up to CAD 6.63 million.
“The company has today signed a share subscription agreement for subscribing up to 8,00,402 Class C preferred shares of Resson Aerospace Corporation, Canada, which would result in the company holding up to 10 per cent of the share capital of Resson on a fully diluted basis,” M&M said in a regulatory filling.
The amount of CAD 6.63 million which amounts to approximately 34.5 crore in Indian currency will be paid in cash.
Resson is a machine learning and data-driven analytics company that makes use of the latest technological advancements to provide farmers with full insights abo...