Saksoft surges over 15% on acquiring stake in ThreeSixty Logica

MUMBAI: Shares of Saksoft surged over 15 per cent in weak market as the company acquired 51 per cent stake in ThreeSixty Logica, an independent software testing company.

“We are very excited with this investment and believe that our focus on information management combined with their expertise in independent testing will enable us to further leverage our capabilities as a niche technology services provider,” said Aditya Krishna, CEO, Saksoft.

At 11:00 a.m.; the stock was at Rs 152.85, up 14.92 per cent, on the BSE. It rallied 15.78 per cent to touch intra-day high of Rs 154.

At the current market price, Saksoft is trading at 10.96x its FY16E EPS. Its P/B is 1.51 and book value/share is at Rs 101.52.

ThreeSixty Logica offers high-end software testing programs and test solutions to independent software vendors, software product companies and SMEs.