Security Pays Off: ₹75M Order Boosts Magellanic’s Provigil Pipeline

Magellanic Cloud Ltd said that its subsidiary, Provigil Surveillance, has secured an annual order of ₹75 million, solidifying its position in India's rapidly growing electronic surveillance industry.

 

Provigil Surveillance, which was acquired by Magellanic Cloud in 2022, is an AI/ML and IoT-enabled e-surveillance solutions company. The firm provides theft prevention, compliance monitoring, and operations analytics solutions to over 20,000 locations across India, with key retail and enterprise clients.

 

This new deal is the most recent in a spate of recent contract wins for Magellanic Cloud, which has been on the offensive in expanding its security technology footprint. The company's strategic acquisitions of IVIS International and Provigil Surveillance have enabled it to deliver end-to-end surveillance and analytics solutions optimized for deployment at the enterprise level.

 

The ₹75 million deal will contribute significant revenue to the firm's recurring revenue stream and reflects growing demand for intelligent surveillance infrastructure for India's industrial and commercial environments. 

 

Sources: Mergr, MarketScreener