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Diginex Limited (NASDAQ:DGNX) announced on Friday that it has signed a non-binding memorandum of understanding to acquire The Remedy Project Limited, a London-based organization recognized for its work on worker-focused remediation programs and human rights risk assessments.
The company states that the planned purchase is intended to enhance its sustainability and advisory offerings. The agreement outlines Diginex’s intention to fold Remedy’s capabilities into its advisory division, expanding the firm’s support for companies preparing for emerging global due diligence requirements.
Founded in 2021, the organization specializes in operational-level grievance systems and forced-labor remediation frameworks for multinational supply chains. Under the proposed deal, its chief executive, Archana Kotecha, would move into a senior leadership role at Diginex, guiding global remediation strategy and innovation efforts.
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Kotecha added, “Joining Diginex represents a transformative step forward in scaling worker-centered approaches to human rights due diligence and remediation globally. Our shared commitment to technology-enabled transparency and human rights due diligence will help companies not only comply with emerging regulations but also build more resilient and ethical supply chains.”
“The Remedy Project has been at the forefront of closing the gap between detection and actual remediation in global supply chains,” said Miles Pelham, Chairman of Diginex.
While the MOU is non-binding, Diginex anticipates completing the acquisition following due diligence and the signing of definitive agreements, with an estimated closing window of approximately 45 days.
The company also noted progress on talks to acquire marketing-technology firm Resulticks, though the original memorandum has lapsed as final terms continue to be negotiated.
Price Action: DGNX shares were trading lower by 5.46% to $11.25 at last check Friday.
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Posted In: DGNX
