Saksoft acquires Kale Consultants subsidiary Synetairos Technologies for undisclosed sum
04 Jul 2011
Information management company Saksoft Ltd has acquired consulting services firm Synetairos Technologies Ltd, a subsidiary of Kale Consultants Ltd, for an undisclosed amount.
Synetairos Technologies offers specialised consulting services in technology and financial services across India.
"Indian market is growing in services and the acquisition of Synetairos is part of the broader plan to enlarge our footprints in the Indian geography," Saksoft Chief Execuive Officer Aditya Krishna said in a statement.
Saksoft had recently announced strategic partnerships with FICO for reselling its products in India and also with Sofgen for providing managed testing services, the statement said.
Mumbai-based Kale Consultants has sold its entire 49-per cent stake held in Synetairos Technologies Ltd to Chennai-based Saksoft Ltd.
The sale of shares is pursuant to an agreement signed between Saksoft, Kale consultants Ltd, Synetairos and Prakash Alkutkar (who held the remaining 51 percent equity in Synetairos), whereby Saksoft acquired 100-per cent stake in Synetairos, it said in a statement issued to BSE.
After the sale, Synetairos has ceased to be a subsidiary of the company, Kale Consultants said.
Shares of Kale Consultants were rose 3.33 percent on the NSE at Rs85.25 up, after rising to a high of Rs86.80 during the day, while Saksoft was up 2.52 per cent at Rs61, after touching a high of Rs62.40.