OFS Technologies has received an approval for strategic acquisition of a Business Project for a purchase consideration of Rs 5 crore. The board of directors at its meeting held on February 08, 2016 has approved for the same.
The Business Project is engaged in software development similar to the company’s existing business activities. With this purchase, the company can consolidate its position in food processing industry and other software development segment.
OFS Technologies helps software-enabled businesses to design, develop, test, and maintain their software products and applications, whether they are hosted, licensed, or mobile.