Cambridge Technology Enterprises has received an approval for proposed acquisition of Appshark Software, Inc., USA. The group will be able to leverage the association of Appshark Software Inc to grow in IT space in USA. The business of entity being acquired is not outside the main line of business of the company i.e., Information Technology and its related aspects. The proposed acquisition is in line with the long-term outlook of the company in venturing in the IT space across geographical areas. Cost of acquisition is $5 million (Rs 41 crore). The Board of Directors at their meeting held on June 23, 2023, has approved the same.
Cambridge Technology Enterprises (CTEL) is a global technology services and outsourcing company dedicated to serving the midsize market of enterprises and the midsize units of Global 2000 enterprises across the spectrum of business industries.
