Software developer Megasoft today said it will divest its IT services division BlueAlly to US-based Trianz Inc for about $13-15 million, following the announcement its shares shot up nearly 20 per cent on the BSE.
The board has approved the sale and transfer of BlueAlly division as a 'going concern' to Trianz Inc, which is a wholly-owned subsidiary of IT and BPO firm Trainz Holdings, India, the company said in a filing to the Bombay Stock Exchange.
"...The value of the outstanding receivables on the date of the transfer of the division (is estimated) to be around $13-15 million (about Rs 63 crore)," it said.
The divestment of the unit is subject to the approval of the shareholder's of the company, Megasoft added.
Shares of Megasoft today closed at Rs 31.55, up 19.51 per cent from its previous close on the BSE. The benchmark Sensex today ended in red zone, falling over 225 points or 1.50 per cent to 14,809.64.
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