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Sonata Software spurts after acquisition

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rose 4.02% to Rs 309.50 at 14:01 IST on BSE after the company announced signing definitive agreement to acquire Australia-based

The announcement was made during trading hours today, 6 December 2018.

Meanwhile, the BSE Sensex was down 436.16 points, or 1.22% to 35,448.25.

On the BSE, 23,000 shares were traded in the counter so far compared with average daily volumes of 9441 shares in the past two weeks. The stock had hit a high of Rs 312 and a low of Rs 303 so far during the day. The stock hit a 52-week high of Rs 428.75 on 19 September 2018. The stock hit a 52-week low of Rs 214.60 on 6 December 2017.

Sonata Software, announced that it has signed definitive agreement to acquire Scalable Data Systems, headquartered in Brisbane, is a highly respected provider of solutions in the Australian market, with a history of more than 25 years and has built a solid reputation in providing Dynamics 365 F&O solutions for industry leading clients in especially in the and wholesale & distribution.

Scalable's IP for Commodity Trading "CTRM" has now earned market leading reputation globally with due recognition accorded to the company as a Gold and an ISV

has been focused on being a digital transformation of choice for customers in retail, distribution, manufacturing, and with their unique platformation methodology, end-to-end digital platforms and alignment to be a strategic for in their digital transformation initiatives, based on the Dynamics 365 Cloud based solution.

Sonata has in the past acquired IBIS, a US headquartered Dynamics 365 partner, and has its own IP, i.e. Brick and Click for retail and modern distribution, for distribution and industries; and now with the Commodity IP from Scalable has extended supply chain capabilities focused on and distribution industries.

On a consolidated basis, net profit of rose 37.08% to Rs 62.18 crore on 38.94% rise in net sales to Rs 593.07 crore in Q2 September 2018 over Q2 September 2017.

Sonata Software is a global company that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 14:00 IST