Sonata Software rises on inking definitive agreement to acquire 100% stake in Halosys

06 Aug 2015

Sonata Software is currently trading at Rs. 173.50, up by 1.10 points or 0.64% from its previous closing of Rs. 172.40 on the BSE.

The scrip opened at Rs. 172.00 and has touched a high and low of Rs. 176.90 and Rs. 168.30 respectively. So far 1,20,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 182.50 on 08-Apr-2015 and a 52 week low of Rs. 72.55 on 07-Aug-2014.

Last one week high and low of the scrip stood at Rs. 178.90 and Rs. 148.10 respectively. The current market cap of the company is Rs. 1,824.00 crore.

The promoters holding in the company stood at 32.38% while Institutions and Non-Institutions held 10.32% and 57.30% respectively.

Sonata Software, a global strategic IT services firm, has signed a definitive agreement to acquire through its US subsidiary, a 100% stake in the enterprise mobility enablement technology provider Halosys. Based in Santa Clara, California, Halosys is an innovator in providing technology platform and solutions that help enterprises realize the transformational impact of mobile on business.

Halosys provides a single Unified Enterprise Mobile Enablement platform that enables businesses build, secure, manage and deploy an enterprise wide mobile applications portfolio. This is achieved by building critical features of multiple hitherto discrete mobility systems such as mBaaS (Mobile Back-end-as-a-Service), MADP (Mobile Application Development Platform), MAM (Mobile Application Management) and API (Application Programming Interface) in a unified platform with consistent workflows and enhanced user interfaces.

The platform seamlessly extends existing enterprise security, identity and business applications to the mobile applications. This simplifies, accelerates and ensures a reliable way to execute mobility programs at scale, with an underlying architecture that adheres to emerging mobile & IoT technology trends. Sonata serves world leaders in ISV, Travel, Retail and Consumer goods businesses with digital business readiness solutions and sees the Halosys acquisition as a key piece in providing an end to end mobile solutions to customers.

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