Zensar Technologies gains 3% on acquisition talks

NEW DELHI: Zensar Technologies Ltd surged nearly 3 per cent in morning trade on Tuesday on reports that the outsourcing services provider is in acquisition talks with at least two US-based companies to boost its offerings in its largest export market.

At 09:40 am; Zensar Technologies pared some of its morning gains and was trading 1.5 per cent higher at Rs 257.85. It had hit a low of Rs 256 and a high of Rs 260.95 in trade today.

“A deal could cost Zensar between $20 million and $50 million,” Reuters said in a report quoting its chief executive officer, Ganesh Natarajan, in a phone interview from the company's headquarters in Pune.

“The Indian company, being advised by boutique financial advisory firm The Chesapeake Group, is talking to firms specialising in either managing large, complex computer networks or providing business software management consultancy,” the report added.