Northgate Tec to acquire 51% stake in Green Fire Agri Comm

Northgate Technologies, engaged in Internet business, today said it will acquire 51 per cent stake in commodity investment firm Green Fire Agri Commodities for an undisclosed amount.

Green Fire is a global commodity investment house. This acquisition would help the company to create high-end electronic communication network for global commodities by connecting to multiple futures, spot exchange, and e-auction platforms, Northgate Technologies said in a filing to the Bombay Stock Exchange.

Green Fire is a 100-per cent subsidiary of Stampede holdings private Ltd.

"This would surely add a bigger value to the business expansion of the company," Northgate Technologies said.