“Datamatics Global Services Corp., Step down subsidiary of the Company, has acquired 75% Stake in RJ Globus Solutions Inc, a voice based BPO Company headquartered in Manila, Philippines,” Datamatics said in a press release.
The objective of this acquisition is to further strengthen the Company’s BPO offerings to meet the growing demands of customers and increase its market presence through an expanded global delivery center, it added.
Post-acquisition the Company will become stepdown subsidiary of the Company.
The company said it acquired 75% shares and balance 25% shares will be acquired in the year 2019 and 2020 based on the financial performance of the target Company.
Datamatics spent US $50,625 towards acquisition of 1,875 shares (or 75%). Additionally, $ 1.55 million will be infused towards payment of certain liabilities as per the definitive agreements, it said.
At 10:58 am; the stock was trading 12% higher at Rs 127 on the BSE, against 0.39% rise in the S&P BSE Sensex. The trading volumes on the counter surged more than five-fold with a combined 945,626 shares changed hands on the BSE and NSE so far.