Zensar Technologies surges on acquiring business of Professional Access Software Development

18 Aug 2014

Zensar Technologies is currently trading at Rs. 438.00, up by 8.00 points or 1.86% from its previous closing of Rs. 430.00 on the BSE.

The scrip opened at Rs. 433.00 and has touched a high and low of Rs. 440.05 and Rs. 433.00 respectively. So far 1828 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 473.55 on 23-Jul-2014 and a 52 week low of Rs. 180.90 on 25-Sep-2013.

Last one week high and low of the scrip stood at Rs. 452.00 and Rs. 422.00 respectively. The current market cap of the company is Rs. 1921.06 crore.

The promoters holding in the company stood at 48.18% while Institutions and Non-Institutions held 12.66% and 39.16% respectively.

Zensar Technologies has purchased the business of Professional Access Software Development after acquiring of 100% of the outstanding equity shares of Professional Access, a company registered in USA by Zensar Technologies Inc., it’s wholly owned subsidiary company in USA. Zensar Technologies Inc USA and Professional Access Inc, USA (PA) have entered into a definitive agreement for Zensar to acquire Professional Access.

Under the terms of the agreement, the New York-based PA will now be a wholly-owned subsidiary of Zensar Technologies Inc. The deal will be financed by a combination of internal accruals and debt. With revenues of over $38 million, PA is one of the largest Oracle ATG and Endeca partners in the world. It is an Oracle Platinum partner with presence in US, UK, Latin America, Middle East and Africa. The company works with several large and mid-sized retailers in these geographies to build and implement their e-Commerce strategies.

This acquisition furthers Zensar’s mission to strengthen its dominant position in the critical and fast growing Oracle e-Commerce space by combining Zensar’s Oracle EBS, Oracle Retail and Fusion Middleware solutions for global clients. With this acquisition, Zensar will be well positioned to deliver solutions that can transform the future of e-Commerce around the world.

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