Infotech Enterprises gains as its arm inks definitive agreement to acquire Softential

10 Mar 2014

Infotech Enterprises is currently trading at Rs. 355.00, up by 12.60 points or 3.68% from its previous closing of Rs. 342.40 on the BSE.

The scrip opened at Rs. 350.00 and has touched a high and low of Rs. 358.90 and Rs. 350.00 respectively. So far 3,287 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 388.95 on 25-Feb-2014 and a 52 week low of Rs. 157.00 on 16-May-2013.

Last one week high and low of the scrip stood at Rs. 379.00 and Rs. 338.00 respectively. The current market cap of the company is Rs. 4,000.00 crore.

The promoters holding in the company stood at 22.32% while Institutions and Non-Institutions held 44.70% and 32.98% respectively.

Infotech Enterprises’ wholly owned subsidiary, Infotech Enterprises America, Inc. has signed a definitive agreement to acquire Softential, Inc. (Softential) headquartered in Herndon, Virginia. This acquisition strengthens the company’s telecommunications business unit by adding 140 skilled global resources.

Softential, Inc. has over a decade’s experience and an impressive track record around Service Management and Service Assurance solutions for telecommunications and cable operators, enterprise customers and the public sector.  Blending strong domain expertise related to networks and operations with a global service delivery model, Softential designs, implements and manages systems and applications that allow customers to reliably monitor and control the performance of their communication networks and business services in real time.

By leveraging their combined and complementary strengths, the company and Softential will offer a scaled, cost-effective and globally delivered managed service proposition for customers to more efficiently plan, build and operate their Network Operations Centres and Data Centres. The resulting synergies will enable the company to broaden its service portfolio for existing customers while supporting expansion into new geographic markets.

Infotech Enterprises provides leading-edge engineering solutions, including product development and life-cycle support, process, network design and optimization, and data management solutions to major organizations worldwide.

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