Zensar Tech hits 52-week high after USA arm completes full acquisition of M3bi LLC, USA

Acquisition of 100% equity share capital of M3bi India Private Limited by Zensar Technologies Inc, USA, was completed last week.

Jul 15, 2021 09:07 IST India Infoline News Service

Zensar Technologies Inc, USA, wholly-owned subsidiary of Zensar Technologies Limited has completed the acquisition of M3bi LLC, the USA has been completed on July 14, 2021.

In mid-May, the company’s board had approved the acquisition of M3bi, LLC, USA, and its subsidiary M3bi India Private Limited, India, and accordingly, the company has entered into a definitive agreement of entire equity share capital of M3bi India Private Limited and M3bi, LLC, USA.

At around 9.50 AM, Zensar Technologies Ltd was trading at Rs353.55 per piece up by Rs15.2 or 4.49% from its previous closing of Rs338.35 per piece on the BSE.
The scrip opened at Rs342.80 and has touched a 52-week high of Rs358 per piece during early trade on Thursday.
The acquisition of 100% equity share capital of M3bi India Private Limited by the company was completed last week.

“M3bi’s capabilities in the areas of data engineering, business intelligence & analytics, data warehousing & big data, as well as digital engineering services, will enhance Zensar’s existing data engineering and digital engineering capabilities."

Zensar and M3BI can jointly leverage the entire range of Zensar’s services for M3bi’s marquee clients,” the company had shared in an earlier disclosure on the said acquisition.

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