Expleo Solutions to acquire IP and technical knowhow from Lucid; Stock soars 1%

28 Mar 2022 , 01:21 PM

The Board of Directors of Expleo Solutions Ltd has inter-alia considered and approved the definitive agreements to be entered with Lucid Technologies and Solutions Private Limited and its subsidiary Lucid Technologies and Solutions LLC (“Lucid”) towards purchase of their specific assets i.e. Intellectual Property (“IP”) and Technical Knowhow in India and Customer Contracts in US.

The definitive agreements will be executed with effective date as April 01, 2022.

Lucid is engaged in the activity of Data Governance, Data Security and analytics led by their IP driven accelerators, capabilities. Lucid partners with leading data governance platform vendors.

They have marquee clients in the US delivering value through their proprietary tools, assets and Agile, CMMi and PSP methodologies, said company in a regulatory filing.

At around 1:21 PM, Expleo Solutions was trading at Rs1660.05 per piece higher by 1.10% on the BSE.