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Mindtree rises on entering into definitive agreement to acquire Relational Solutions

17 Jul 2015 Evaluate

Mindtree is currently trading at Rs. 1267.00, up by 38.25 points or 3.11% from its previous closing of Rs. 1228.75 on the BSE.

The scrip opened at Rs. 1257.10 and has touched a high and low of Rs. 1281.00 and Rs. 1257.10 respectively. So far 7,337 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1589.10 on 09-Apr-2015 and a 52 week low of Rs. 875.00 on 17-Jul-2014.

Last one week high and low of the scrip stood at Rs. 1281.00 and Rs. 1190.00 respectively. The current market cap of the company is Rs. 10,616.00 crore.

The promoters holding in the company stood at 13.71% while Institutions and Non-Institutions held 45.24% and 41.05% respectively.

Mindtree has entered into a definitive agreement to acquire Relational Solutions, Inc., a specialized provider of analytics for Consumer Packaged Goods (CPG) retail execution. Relational Solutions has proven expertise in analytics with solutions for supply chain optimization and trade promotions analytics.

The acquisition will be done in an all cash transaction for $10 million, and the definitive agreements have also been signed on July 16, 2015. The consideration includes an upfront payment of $7 million and earn out of $3 million payable over the next two years. This acquisition is subject to customary closing conditions and regulatory approvals, if any.

Mindtree’s experience in delivering large multi-country programs for CPG companies to improve sales execution along with Relational Solutions’ expertise, cements its ability to drive profitable growth using predictive analytics.

Mindtree delivers digital transformation and technology services from ideation to execution enabling Global 2000 clients to outperform competitors.


Mindtree Share Price

3433.35 0.00 (0.00%)
22-Nov-2022 18:01 View Price Chart
Peers
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