Bartronics zooms on majority stake buy in US firm

Company's overseas arm acquires majority stake in Systems America Inc

Shares of Bartronics zoomed 15% to Rs 26.50 after the company announced that its overseas arm has acquired majority stake in an US firm.

Bartronics Asia Pte Ltd, the 100% subsidiary of Bartronics India Ltd, has acquired 51% stake in Systems America Inc, the company said in a release to the Bombay Stock Exchange.

"The transaction is in line with the stated growth strategy and is expected to result in greater efficiencies and increased market share", the release said.

Over 1.9 million shares were traded on both the stock exchanges so far.