Aftek acquires Munich-based Arexera

Following the 49% stake acquisition in Munich-based Arexera Information Technologies Gmbh, Aftek today announced that it has acquired 100% stake in Arexera.

According to a release issued by Aftek to the BSE, the company in its 18th Annual General Meeting announced that it has acquired the balance 51% stake of the Munich-based Arexera Information Technologies GmbH, thus acquiring 100% of Arexera.

Ranjit Dhuru, CMD, Aftek says "Complete acquisition of Arexera was always on our radar since there is a lot of potential in the enterprise search space and Arexera has the right tools to tap this potential and build on it. Plus there was always the Seekport advantage. Through Arexera we now own 33 per cent of Seekport."

In 2004, Aftek had acquired 56% stake in Seekport Internet Technologies Gmbh through Arexera and its employees.

Further, Aftek declared a 50% dividend, ie Re 1 per equity share of Rs 2/- each. The board also raised the FII investment limit from 30% to 40%.

Meanwhile the stock soared to a high of Rs119, and is presently up 5.5% at Rs 116 with volumes of around 12 lakh shares on the BSE.