Jan 01, 2013, 05.34 PM | Source: Moneycontrol.com
Shares of Saksoft surged as much as 9 percent to touch an intraday high of Rs 46.70 on Tuesday after its subsidiary based in the US has acquired Electronic Data Professionals (EDP), US.
"Our wholly owned US subsidiary Saksoft Inc has completed acquisition of 100 percent stake in EDP, an US based business intelligence and information management consulting company by signing the share purchase agreement on December 31st in United States," the company said in a release.
CEO Aditya Krishna said, "Saksoft is investing in sales, marketing and delivery capabilities for the US market and EDP will be an additional channel for client acquisition and account management."
The stock rose 6.29 percent to close at Rs 45.60 on the Bombay Stock Exchange. In the previous trading session, the share had rallied 5.02% to Rs 42.90.