Redington (India) has informed that Redington Gulf FZE, a step down subsidiary of the Company has entered into a definitive agreement to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus). This proposed acquisition is subject to regulatory approvals of authorities in Turkey. Established in 1995, Linkplus is a leading ORACLE Distributor in Turkey. The balance 30% will be acquired over a 3 year period. The Company has been valued around 6X future earnings.
The above information is a part of company’s filings submitted to BSE.