Saksoft and RPP Infra have been locked in at upper circuit
DSIJ Intelligence / 27 Dec 2016
Information Technology company, Saksoft; and engineering & construction company, RPP Infra Projects were locked in at upper circuit during the afternoon session of the markets.
Information Technology company, Saksoft; and engineering & construction company, RPP Infra Projects were locked in at upper circuit during the afternoon session of the markets.
Saksoft has signed an agreement to acquire majority stake in Bengaluru based DreamOrbit Softech. DreamOrbit Softech is a technology solution consulting firm with a focus on providing IT services to the Logistics industry. With this acquisition, Saksoft will strengthen its offerings in the digital space with special emphasis on IoT.
The company has paid Rs 17 crore for acquisition of 60 per cent stake in DreamOrbit, which has an annual run rate of Rs 35 crore.
Speaking on the acquisition, Aditya Krishna chairman & MD, Saksoft said, “I am happy to share that with this acquisition, Saksoft has strengthened its offering in the IoT space. Also, we have added a very capable team of founders to enhance Saksoft’s overall delivery organisation."
Stocks were trading at Rs 271.65, up 20 per cent on NSE.
RPP Infra was locked in at upper circuit post company coming out with the names of independent directors to be appointed.
Stocks of RPP Infra are trading at Rs 198.60, up 20 per cent on NSE post the news.
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