Prism Informatics gains nearly 5% and hits weekly high of Rs34.40, after the company acquire 20.28% stake in Idhasoft ltd, So far, 2735 shares have traded on the BSE as against the two-week average volume of 13972 lakh shares.
Further to an announcement dated 21st September 2011, Prism acquired 20.28% stake in management control of Idhasoft an unlisted company having its registered office at B-407, BSEL Tech Park, Opp. Vashi Station, Vashi. Navi-Mumbai 400705.
The said acquisition will require Prism to publish its consolidated financials including the financials of Idhasoft Ltd. for the first quarter of 2012-13 beginning from 1st April 2012, Idhasoft has a current run rate of Rs400 crore in revenue and this acquisition will increase revenue of Prism by almost 100%. It would enhance Prism brand presence and with the better co-ordination the management expects organic growth in both the companies.
Idhasoft has strong presence in US and the above said acquisition will strengthen the position of combined company globally.
....more info
Further to an announcement dated 21st September 2011, Prism acquired 20.28% stake in management control of Idhasoft an unlisted company having its registered office at B-407, BSEL Tech Park, Opp. Vashi Station, Vashi. Navi-Mumbai 400705.
The said acquisition will require Prism to publish its consolidated financials including the financials of Idhasoft Ltd. for the first quarter of 2012-13 beginning from 1st April 2012, Idhasoft has a current run rate of Rs400 crore in revenue and this acquisition will increase revenue of Prism by almost 100%. It would enhance Prism brand presence and with the better co-ordination the management expects organic growth in both the companies.
Idhasoft has strong presence in US and the above said acquisition will strengthen the position of combined company globally.
....more info