Datamatics Global up 3% on acquisition of board control of Techjini Solutions

Share price of Datamatics Global Services jumped 3 percent intraday Monday as it has acquired board control of Techjini Solutions.

"The company has acquired board control and will acquire 71.1 percent equity stake i.e. 39,10,000 fully paid equity shares of Re 1 each in Techjini Solutions," as per company release.

Datamatics Global Services has signed a definitive agreement to acquire a controlling stake in TechJini. The objective of this acquisition is to further strengthen Datamatics’ mobility offerings through TechJini’s range of smart technology solutions.

The company will acquire 71.1 percent stake in Techjini on or before July 30, 2017.

TechJini is a leading software services company with a presence in the US, and has a specialized focus on digital experiences and mobile based web application development and maintenance services.

Rahul Kanodia, Vice Chairman & CEO of Datamatics Global Services said, “We are happy to partner with TechJini, as it will further enhance our service in the mobility space and create a niche that will help us gain a competitive advantage."

"Going forward, I foresee greater demand and growth in device centric businesses including IoT, mobility and self-service kiosks among others,” he added.

At 12:10 hrs Datamatics Global Services was quoting at Rs 104.70, up Rs 1.40, or 1.36 percent on the BSE.