SQS to trigger open offer for majority stake in Thinksoft

AV Asvini Kumar, MD, Thinksoft Global Services, in an interview to CNBC-TV18 clarified that  Germany's SQS Software Quality Systems, AG will intialliy pick up 26 percent stake from promoters and will launch an open offer for 30 percent.

He further added, in case there is short fall in the open offer then the company will top it up to help SQS Software achieve their objective of getting majority stake to the extent of shares held by promoters. Thinksoft Global Services Ltd has informed BSE that SQS Software Quality Systems, AG a company listed on the AIM at the London Stock Exchange, with a secondary listing on the Deutsche Borse 'Open Market', an independent software and verification services provider (the "Acquirer"), is proposing to acquire control of Thinksoft Global Services Limited (the "Company") by acquiring the equity shares held by certain promoter shareholders of the Company