India-listed cybersecurity TAC Infosec has acquired a 100% stake in TAC Cyber Security Consultancy in the UAE.  

The approval for the transfer of trade commercial license from the Department of Economic Development was received on September 29, TAC Infosec said in a statement to the National Stock Exchange on Monday.

The cost of acquisition was 30,000 UAE dirhams ($8,168).

The wholly-owned subsidiary has not yet initiated its operations in the UAE.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)