Datamatics Global Services to acquire further 49.50% stake in Cybercom Datamatics Information Solutions

The company currently holds a 50.50% stake in CDIS and after post remaining 49.50% acquisition from Cybercom, Datamatics will hold entire stake in CDIS.

May 27, 2021 04:05 IST India Infoline News Service

Datamatics Global Services Limited has approved, to acquire a 49.50% stake in Cybercom Datamatics Information Solutions Limited (CDIS) held by Cybercom Group AB and on completion of the aforesaid acquisition of shares, CDIS will become wholly-owned subsidiary of the company.

The total cost of acquisition is Rs30.82 Million acquiring 4.2 lakh shares. The company had a Joint Venture agreement with Cybercom through a JV Company i.e. CDIS and that the Company is holding 50.50% shares and Cybercom is holding 49.50% shares in the JVC. 

The Joint Venture agreement between the Company and Cybercom will be terminated on completion of acquisition.

Datamatics Global Services Ltd ended at Rs153.40 per piece up by Rs6.8 or 4.64% from its previous closing of Rs146.60 per piece on the BSE.

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