Pressure Sensitive Systems India Ltd through its wholly owned subsidiary Global Markets Insights IT Services LLC has recently opened a new state-of-the-art data centre called Pressure 2.0 Cloud. The company was established in January 2023 and the inauguration took place on 1st May 2023. The new data centre, consisting of a single facility, is set to provide 20MW of IT capacity across 194,000 square feet (18,000 square meters) to customers in the UAE from early 2025. The establishment of this new data centre marks a significant milestone for the company, allowing it to cater to the growing demand for critical IT capacity in one of the world's largest markets.
Moreover, the company has received orders worth $32 million USD from seven companies in the last quarter, including IBM UK and Australia, Kuwait Airways, and
Laddu Gopal Ventures Pvt Ltd. These orders reflect the company's growing stature in the IT industry, and the expansion of its operations in the UAE will strengthen the region's digital infrastructure, contributing to the region's economic growth.
The newly inaugurated data centre, Pressure 2.0 Cloud, is a testament to the company's commitment to providing cutting-edge IT solutions to its customers while supporting the growth and development of the UAE's digital infrastructure. The company's stock prices have already been boosted by 2% following this new development, and it is expected that the completion of these orders by June 2023 will result in positive quarter numbers for the company.
As the demand for IT capacity continues to grow at an unprecedented pace, the establishment of the Pressure 2.0 Cloud data centre by Global Markets Insights IT Services LLC will provide its customers with the necessary resources to stay ahead in a rapidly evolving digital landscape. The company's strong reputation in the IT industry, combined with its investment in cutting-edge technology, positions them as a leader in the region and will undoubtedly contribute to the continued growth of the digital economy.
The company’s share price closed at 6.72 on 2nd May 2023.
