1264 Investors following Cambridge Sol. Share this News with them.
0
Like this story, share it with millions of investors on M3
Cambridge Solutions to sell part of US unit for USD 22.7m
Cambridge Integrated Services Group Inc, USA (CISGI), a 100% subsidiary of Cambridge Solutions, is selling its USA workers’ compensation and third party administration operations to Sedgwick Claims Management for USD 22.7 million.
Cambridge Integrated Services Group Inc, USA (CISGI), a 100% subsidiary of Cambridge Solutions , is selling its USA workers' compensation and third party administration operations to Sedgwick Claims Management for USD 22.7 million.
Cambridge Solutions shares hit the 20% upper trading limit of Rs 38.35 on NSE following the announcement.
The decision was taken "in view of the unsatisfactory returns and significant future commitments of the CISGI business," it said in a notice to stock exchanges.
Business process outsourcing firm Cambridge Solutions said CISGI has incurred operational losses continuously over recent years due to continued decline in revenue generated in the business.
