Cerebra to take 51 per cent stake in Geeta Monitors
13 Jun 2011
Cerebra Integrated Technologies is set to take a 51-per cent stake in privately held IT products distributor Geeta Monitors, in an all-cash deal.
The value of the deal has not been disclosed.
For 2010-11 (April-March) Geeta Monitors grossed a total income of around Rs50 crore which is expected to swell to Rs100 crore in the current fiscal year, according to the comany.
The company said in a statement the acquisition was part of an expansion plan of its system and solutions division and IT infrastructure business aimed at leveraging the increasing demand in the world's second fastest growing major economy.
The two companies would also expand presence in other regions in West Asia, the company said.
Geeta Monitors' promoter Ashok Chhabria who would hold a 49-per cent stake post the deal would continue to run the company, it said.
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