VL E-Governance & IT Solutions to acquire 26% stake in HAL-Edgewood Technologies

VL E-Governance & IT Solutions has entered into a binding term sheet with Edgewood Ventures LLC, USA on 18 July 2024 for acquisition of 26% equity stake in HAL-Edgewood Technologies (HETL).

HETL was set-up in 2007 as a Joint Venture of Hindustan Aeronautics (HAL), in collaboration with Edgewood Ventures LLC, USA and Edgewood Technologies , Bangalore, India.

HETL has developed next-generation state-of-art Mission Computer (OSAMC: Open System Architecture Mission Computer) for Military Aviation / Aircraft. The first product in its category and completely designed & developed on Indian Soil. It is also an import substitution product. The product Mission Computer (OSAMC) has been patented vide patent No. 302177 and received approval under "Make-in-India" products.

The Company is engaged in the business of design, develop, manufacture or promote high-tech projects/products such as to carry on the business and promote research design and development in the field of electronics, software, hardware and aeronautical system required for aviation, aerospace and satellite projects.

The company is also in the business of to set up design center for design and development of chip data encryption and digital design center.

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