Zensar Technologies to acquire IT services firm - M3bi

Zensar Technologies Inc, USA, wholly owned subsidiary of Zensar Technologies (the Company), has entered into definitive agreement(s)/document(s) for acquisition of 100% of the membership interests in M3bi, LLC, USA.

Further, the Board of Directors ('Board'), inter-alia, approved/concurred/consented to acquisition of M3bi India, India and accordingly the Company has entered into definitive agreement(s)/document(s) for acquisition of entire equity share capital of M3bi India, subsidiary of M3bi, LLC, USA.

M3bi's capabilities in the areas of data engineering, business intelligence & analytics, data warehousing & big data, as well as digital engineering services, will enhance Zensar's existing data engineering and digital engineering capabilities.

Zensar and M3BI can jointly leverage the entire range of Zensar's services for M3bi's marquee clients.

The acquisition is for a cash consideration of an aggregate upfront payment of USD 21.60 million and performance based deferred payments over 36 months not exceeding USD 9 million.

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