GTT Data Solutions has received approval for the acquisition of 100% stake in the Alpharithm Technologies, subject to completion of due diligence and execution of share purchase agreement and fulfilment of conditions therein, if any.
The objective of the acquisition is to expand company’s research and development of media software, designing and processing of computer software, hardware and providing Business Process Outsourcing (BPO) services, online solutions using latest software technology services and developing solutions for computer oriented problems involving hardware, software, interfaces and techniques, developing and installing market system and application software products, software research and development services, software development, outsourcing, offshore, software consulting, business process outsourcing, HR solutions and human resources and to promote and operate software technology labs and software development centers and undertaking computer services relating to information systems.
The total cost of acquisition for acquiring 100% of the equity shares / voting rights in Alpharithm Technologies may be around Rs 15 crore, subject to outcome of diligence and entering into transaction documents between the parties. The Board of Directors of the company at their meeting held on February 2, 2025, has approved the same.
GTT Data Solutions (Formerly known as Cinerad Communications) operates in the entertainment industry in India. The company produces advertising and promotional films, corporate films, and documentaries for television.
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| Saregama India | 344.55 |
| Shemaroo Entertain. | 105.35 |
| Balaji Telefilms | 94.39 |
| UFO Moviez | 72.06 |
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