Xtglobal Infotech Ltd. Enters Into Term Sheet for Proposed IT/ITES Business Acquisition

Xtglobal Infotech Ltd. has entered into a term sheet for a proposed acquisition of an IT/ITES business in a moderate scale entity, primarily operating in the USA. The acquisition is not a related party transaction and is intended to support strategic growth, business expansion, and operational synergies. The consideration for the proposed acquisition is intended to be discharged through cash consideration or share swap, subject to finalization of terms. The target entity is engaged in IT/ITES Sector, was incorporated under the laws applicable in USA, and has business primarily in USA. The financial performance details for the past three years are commercially sensitive at this stage.