Datamatics hits 52-week high after advancing date for complete acquisition of 49.50% stake in CDIS

The acquisition will now be completed on or before September 30, 2021, the company said.

Jun 18, 2021 11:06 IST India Infoline News Service

Datamatics Global Services Limited has extended the date of completion of the acquisition of a 49.50% stake in Cybercom Datamatics Information Solutions Limited (CDIS).

The company in a board meeting on May 26, 2021, had approved the acquisition and said the acquisition of shares will be completed within 20 days. It will now complete the acquisition of aforesaid shares in one or more tranches on or before September 30, 2021.

Datamatics Global Services had a Joint Venture agreement with Cybercom Group AB through a JV Company i.e. CDIS / JVC) and that the Company was holding 50.50% shares and Cybercom is holding 49.50% shares in the JVC.

The company stock was bullish amidst the bearish markets. At around 11.45 AM, Datamatics Global Services Ltd was trading at Rs166.30 per piece up by Rs9.65 or 6.16% from its previous closing of Rs156.65 per piece on the BSE. The stock hit a fresh 52-week high of Rs179.70 per piece on Friday.

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