Acropetal to acquire 2 US based cos; stock down

MUMBAI: Acropetal Technologies has entered into definitive agreements to acquire 100 per cent equity in Line Beyond Inc and 70 per cent stake in Optech Consulting Inc for $ 4.90 million each. Both the companies will become subsidiaries of Acropetal Technologies April 01, 2011.

The stock reacted negatively and was down 5 per cent on the NSE. It touched a high of Rs 106.30 and low of Rs 96.60 in trade so far. Around 42.42 lakh shares were traded in the counter.