Datamatics Global Services rises 3% on acquiring additional stake in subsidiary

Shares of Datamatics Global Services added 3.5 percent intraday March 20 after the company acquired an additional stake in a subsidiary company.

The company in its BSE release said it has acquired an additional 10 percent equity stake i.e. 5,50,000 fully paid equity shares of Re 1 each in Datamatics Digital, the subsidiary company.

The objective of this acquisition is to further strengthen Datamatics' enterprise mobility offerings through target Company's range of smart technology solutions, it added.

With the acquisition, the company's stake in Datamatics Digital has increased to 81.1 percent. The acquisition is likely to get completed on or before March 31, 2019.