Sonata Software North America, Inc., a wholly-owned subsidiary of Sonata Software
, has entered into a definitive agreement on Wednesday with shareholders of Rezopia to acquire the remaining 40% stake in the Californian corporation.
Despite the news, shares of the software company were down ~1% in intraday trade on Thursday.
Pursuant to the acquisition of the entire share capital, Rezopia will become a wholly-owned subsidiary of the company.
Sonata Software North America had acquired 60% stake in Rezopia in 2014.
Rezopia is a cloud-based, end-to-end travel reservation, contracts, operations, and distribution management platform for travel providers.
This deal will give Sonata Software complete control to further invest in the development and marketing of Rezopia products and services.
Sonata Software Ltd share price is currently at Rs301.20, down Rs3, or 0.99%, from its previous close of Rs304.20 on the BSE.
The scrip opened at Rs303.40 and has touched a high and low of Rs303.45 and Rs301.20, respectively. So far, 28,874 (NSE+BSE) shares were traded on the counter.