Cressanda Solutions board to consider acquisition of Lucida Technologies on April 29; Stock gains ~2%

27 Apr 2022 , 11:08 AM

A  meeting of the Board of Directors of Cressanda Solutions Ltd is scheduled to be held on Friday, April 29, 2022, at the registered office of the Company, to discuss, consider and approve the acquisition of Lucida Technologies Private Limited.

Cressanda Solutions Limited, a Mumbai based BSE Listed company, has decided on Tuesday to sign a nondisclosure and a LOI with Bangalore based Lucida Technologies to acquire 100% of the issued and outstanding equity interests of Lucida.

Cressanda with an eye to deliver high-end, valued-added services to the global clientele mainly in the USA and the European market, this acquisition will unleash great synergy opportunities to leverage scale and deepen the existing customer relationships with a wider array of technology and services offering.

Lucida Technologies is a Bangalore based digital technology company specializes in providing development and support services in Leading edge technologies such as data analytics, artificial intelligence / machine learning (AI/ML), full stack, mobile and Robotic Process Automation (RPA).

Lucida caters to multiple clients located in India, Malaysia, Singapore, the USA, the UK, spanning across various domains and industries.

Lucida partners with its clients to ideate and develop quality products and solutions that leverage their own industry-domain expertise and marries it to their proven technology capabilities. Lucida has extensive experience in architecting, building, and supporting business critical technology platforms.

At aroud 11:08 AM, Cressanda Solutions was trading at Rs37.45 apiece up by Rs0.65 or 1.77% on the BSE.