Teledata up on US IT firm acquisition

DALAL STREET SPIKES

Teledata Informatics rose 7.75 per cent to close at Rs 20.15 after the company said it had acquired US based Alpha Soft Services Corporation. The scrip touched an intra day high of Rs 22.15. 19.14 lakh shares were traded as against the average of 2.71 lakh shares.

Alpha Soft is a $28 million company providing IT services in the areas of Enterprise Resource Planning (ERP), Data Warehousing, E-Business and related technologies.

Its vendor specific technologies include Oracle, PeopleSoft, BEA, IBM, ATG, Informatica, Business Objects, Cognos and Microsoft. Teledata provides e-Governance and ERP solutions to education, marine and IT services.

The company is also into shipping business and company is mulling demerger of its businesses into various divisions. The company's board will meet on 23 March 2006 to consider the demerger issue.