Datamatics Inks Agreement To Acquire TechJini

Datamatics Global Services Ltd. signed a definitive agreement to acquire 71.1% stake in TechJini, a boutique mobile and web application development company. The objective of this acquisition is to further strengthen Datamatics mobility offerings through TechJini’s range of smart technology solutions.

The cost of acquisition stands at Rs 39.1 crore.
With enterprise mobility gaining significant momentum with companies adopting ‘mobile first ’core strategy for their business and cloud platforms. The company will further enhance in the mobility space and create a niche to gain competitive advantage, said Rahul Kanodia, Vice Chairman and CEO.

The stock traded in green gaining 1.02% at Rs 104.35 per share on BSE on the first half of Monday’s intra-day trade. Meanwhile, the stock on NSE attracted a traded volume of 95,032 shares and a traded value of Rs 99.33 lakh.

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