Saksoft acquires UK Co for over Rs 77.84 cr
The transaction is effective from October 1, and was funded through internal accruals and debt.
By PTI |
MUMBAI: Saksoft Ltd on Tuesday said it has acquired UK-based Acuma group for Rs 77.84 crore (17 million dollar) in an all cash deal.
The combined, entity would have revenues of Rs 200 crore with 500 people and diversified operations in Asia, Europe and USA, Saksoft informed the Bombay Stock Exchange.
The transaction is effective from October 1, and was funded through internal accruals and debt, it added.
"The combined entity's offerings will now be multi-vertical, multi-service with customer facing domain experts and back-end technology/service specialists," Saksoft Managing Director Aditya Krishna said.
Saksoft and Acuma would combine high-end consulting with a global service delivery model and Acuma's current value proposition would be strengthened by Saksoft's delivery organisation.
Acuma, which is UK's largest provider of information value management solutions, licensing and training services in business objects, had revenues of over 20 million dollar for the calendar year 2005 and Saksoft had revenues of Rs 50 crore for the year ending March 2006.
Yesterday the company had received the approval of its board of directors to acquire 100 per cent shareholding in UK-based Acuma group for 17 million dollar.
Shares of the company were trading at Rs 102.40, up 4.97 per cent at the BSE.
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