eClerx Services stock jumps 7% on overseas acquisition

Shares of outsourcing firm eClerx Services today surged 7 per cent after the company announced its plans to acquire Italian media content management company Clx Europe SPA for 25 million euros.
The stock moved up by 6.93 per cent to Rs 1,700 on the BSE.
On the NSE, it jumped 7 per cent to Rs 1,697.
The company will be doing the acquisition through its British subsidiary and has signed an agreement to acquire the Italian company for the consideration, it had said in a note yesterday.
"The combined companies' capabilities are highly complementary and now form a continuous value chain of creative asset development, digital multi-channel production, data management and analytics," it had said.

Clx Europe creates, manages and delivers creative assets globally to the multi-channel market for luxury brands and major retailers.
The acquisition will be funded by internal accruals and post-acquisition, CLX will operate as a subsidiary of Eclerx, it had said.