Dev IT mulls to enter blockchain space

New Delhi: After the recent sub-division of equity shares, Dev Information Technology (Dev IT) is looking to foray into the blockchain space.

In a regulatory filing, the company announced the same, saying blockchain technology is already expanding into several use cases, driven by blockchain and Web 3.0 companies.

"Apart from the numerous technological advantages that blockchain technology brings, by the end of 2026, it is expected to reach $67.4 billion, at a CAGR of 68.4% as per various reports," it added.

Earlier this month, the company had sub-divided its equity shares in 1:2 ratio. The stock with a face value of Rs 10 each was divided into two shares with a face value of Rs 5 each.

Dev Information Technology is an ITeS company, providing digital transformation to its customers, leveraging its expertise on cloud, automation, and data.

Dev IT has already started providing solutions to their customers on blockchain. The company recently announced the acquisition of Minddeft Technologies (Minddeft).

Ahmedabad-based Minddeft is a leading blockchain technology company, which provides comprehensive blockchain and enterprise solutions with constant tech innovations.

Recently, it teamed up with Adani Institute of Digital Technology Management (AIDTM) & Orena Solutions to upskill IT students & professionals in Cloud, AI/ML, Blockchain & ongoing digital transformation technologies and give them career opportunities.