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Daily briefing · 2026-08-14 · compiled Fri, 14 Aug 2026 01:25 UTC · 1-minute read
Magellanic Cloud Limited's subsidiary, IVIS International Private Limited, has secured multiple purchase orders from NCR Corporation India Private Limited to install surveillance solutions across 1,000 Punjab National Bank ATM locations nationwide. The contract is valued at approximately 18.4 crore rupees and spans five years, encompassing both capital expenditure and operational expenditure components. This deployment demonstrates IVIS's capability to execute large-scale surveillance projects across distributed banking networks.
The company, headquartered in Hyderabad, specializes in digital transformation and artificial intelligence-driven surveillance systems. According to Magellanic Cloud's Chairman and Managing Director Joseph Sudheer Reddy Thumma, the banking and financial services sector has been a strategic focus for over 15 years. The order reinforces the company's position in delivering technology-enabled security solutions for critical financial infrastructure and reflects its ability to address the growing security needs of major Indian banks. The company employs over 1,600 professionals and serves more than 100 clients across multiple countries.
Summarized from reporting first published by calcuttanews.net. Read the original coverage.
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