Tanla Solutions makes Finland company wholly owned subsidiary

Tanla Solutions has acquired the remaining 10 per cent in Tanla Oy, Finland, thereby making the overseas company its 100 per cent wholly owned subsidiary. According to a company release, Tanla, in June 2008, as per the share purchase agreement, acquired 85 per cent in Tanla Oy (formerly Openbit Oy) followed by additional acquisition of 5 per cent in June 2009.

Tanla has paid 5.95 million euro (approx Rs 36 crore) for the present acquisition of 10 per cent shareholding of Tanla Oy to the management shareholders. Tanla Oy's clientele includes leading handset manufacturers like Nokia and some of the largest independent software systems like Symantec, F-Secure and Quick office and gaming companies like 3D Arts and Gamelion.

Shares of Tanla Solutions gained 1.72 per cent on the Bombay Stock Exchange on Thursday. It was trading at Rs 47.30 around 1pm.