Zensar dazzles on UK acquisition reports

Zensar (UK), a wholly owned subsidiary of Zensar Technologies India, a RPG group company has announced the signing of a definitive agreement with shareholders of Foolproof Ltd., wherein Zensar will be acquiring Foolproof Ltd.,  along with its two wholly owned subsisdiaries one in UK and another one in Singapore.

The sum amount of acquisition has not been disclosed yet. The acquisition deal will be done using the internal accruals and is expected to be EPS accretive.

Foolproof is one of the leading experience design agencies headquartered in London with offices in Norwich and Singapore.The company helps global brands design better and is involved in research consulting and design services to global corporations to help define their customer experiences.

Zensar is trading at Rs. 967 per share on Wednesday up by almost Rs 35 per share or 3.80 per cent on an intraday basis. Over one month’s time the stock is down by 4.21 per cent and over one year the stock has given negative returns of almost 4 per cent.