Prism Informatics to acquire Germany's GOD Barcode Marketing

MUMBAI: Software firm Prism Informatics today said it will acquire Germany-based GOD Barcode Marketing (GODBM) for an undisclosed amount in a move to strengthen its presence in the supply chain and logistics domains.

However, the financial terms of the deal were not disclosed.

In a filing to the Bombay Stock Exchange, Prism Informatics said it "has entered into agreement with the promoters/owners of GOD Barcode Marketing mbH (GODBM), Germany, for acquiring a 100 per cent stake in the company."

The German company is engaged in providing technology and services solutions, with a key focus on the logistics and supply chain domains, serving clients for close to three decades.

"The acquisition will help us strengthen our existing verticals and gain expertise in various domains. With GODBM, Prism will be able to serve its customers and partners better as now we will be sharing a common vision and goal," Prism Informatics Managing Director Alok Pathak said.

Following the announcement, shares of the software firm went up by 1.98 per cent to Rs 67.05 in early trade on the BSE.

Last year, Prism Informatics bought a 51 per cent stake in Saudi Arabia-based Information Management Technologies (IMT).