Media Matrix Worldwide has signed Share Purchase Agreement (SPA) subject to the approval of the shareholders of the company to divest its entire stake in DigiCall Teleservices (DTPL), a wholly owned subsidiary of the company to Karvy Data Management Services (KDMSL).
Pursuant to the above, DTPL will cease to be a wholly owned subsidiary of the company and DigiCall Global, a wholly owned subsidiary of DTPL and a step down subsidiary of the company, shall cease to be a subsidiary of the company.
Media Matrix Worldwide is engaged in providing consultancy services. The company is engaged in the business of digital media content and dealing in related activities in media and entertainment industry.