Telidyne failed to acquire a 56% Stake in Ducon Infratechnologies.

Telidyne, a technology company providing software development services and offering digital payments, agreed to acquire a 56% Stake in Ducon Infratechnologies, a provider of equipment and systems related to FGD systems for utilities and industrial plants, bulk material handling systems, IT services, electrification and other infrastructure turnkey projects. Financial terms were not disclosed. Telidyne Board of Directors has decided to grow and expand the company into other new emerging markets through acquisitions. The Company will still continue to expand the customer of its Mobile App TELIBIT and at the same time keep looking for further strategic acquisitions. On May 27, 2020 Telidyne announced the stake acquisition could not be completed due to inability to receive an approval from the Indian authorities for this purchase. .