Shares of Sonata Software
are trading 4% higher on the news that it has signed a definitive agreement to acquire Scalable Data Systems, a Brisbane-headquartered business solutions provider.
Scalable has a history of more than 25 years and has built a solid reputation in providing Microsoft Dynamics 365 F&O solutions for industry leading clients in Australia, especially in the manufacturing and wholesale & distribution segments. Scalable’s IP for Commodity Trading “CTRM” has now earned the market leader reputation globally with due recognition accorded to the company as a Microsoft Gold and an ISV Partner. Read more.
Sonata has, in the past, acquired IBIS, a US-headquartered Dynamics 365 partner, and has its own IP, i.e. Brick and Click for Retail and Modern Distribution, for distribution and manufacturing industries; and now with the Commodity IP from Scalable, it has extended its supply chain capabilities focused on manufacturing and distribution industries.
Sonata Software Ltd is currently trading at Rs309.30 up by Rs11.75 or 3.95% from its previous closing of Rs297.55 on the BSE.
The scrip opened at Rs303 and has touched a high and low of Rs312 and Rs303 respectively.