According to Zensar, all the three focus segments for the company - financial services, retail and manufacturing - are now at the forefront of driving the global spending on digital technologies
Pune-based IT services firm Zensar Technologies said it would acquire Bengaluru-based retail technology provider Keystone Logic Solutions and its US subsidiary for Rs 132.4 croreWith this acquisition, to be completed by April, Zensar, the IT services arm of RPG Group, aims to strengthen its technology solutions to global retail and consumer brands using Keystone's expertise on omni-channel retail order and warehouse management. "Zensar Technologies and Keystone Logic have entered into a definitive agreement for Zensar to acquire the business of Keystone Logic Solutions Pvt Ltd. In addition, Zensar Technologies Inc., a wholly-owned subsidiary of Zensar will acquire Keystone Logic Inc., a wholly-owned subsidiary of Keystone, in Atlanta, US," said the company in a press statement. The Pune-based mid-size software services firm believes this acquisition will help in overall digital transformation of its clients. Currently, a fourth of Zensar's revenue comes from retail and consumer ...
The deal will be financed by internal accruals and will be EPS positive for the company; deal amount undisclosed
The stock was up 12% at Rs 1,045 on BSE, as compared to 1.2% decline in the S&P BSE Sensex at 03:07 pm.
The stock hit a high of Rs 1,111 and a low of Rs 1,030 so far during the day
Zensar will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in quality of service
The stock dipped 8% to Rs 919 after the company reported 2% decline in net profit at Rs 70 crore in March quarter on sequential basis.