DRC Systems India to acquire 23.34% stake in Nextenders India; Stock gains 3%

17 Oct 2022 , 10:24 AM

The Board of Directors of DRC Systems India Limited at its meeting held on October 14, 2022 has considered and approved to acquire 23.34% stake in Nextenders (India) Private Limited (“Nextenders”). Post acquisition, Nextenders would become an Associate Company, the company said.

Accordingly, Nextenders is engaged in the business of Electronic Procurement Software Systems, Solutions & Related Services. Nextenders has strong presence in India, Africa, Philippines and Mauritius in public sector.

Till date, Nextenders has processed over 625,000 transactions through their softwares worth over 15 Billion USD. Nextenders has patented its systems in countries including India, UK and USA. DRC is seeing business opportunity through these presences to package product and software services.

At around 10:27 AM, DRC Systems was trading at Rs29.90 per share higher by 3.10% on the BSE.

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