The Chennai-based IT company, Helios and Matheson saw its stock surge at the bourses last week as it announced its acquisition plans. It signed a contract with IT services firm vMoksha to acquire 100 per cent of its business for $19 million.
Following the news, the stock price jumped 15 per cent as marketmen rushed in to buy the scrip. Volumes, too, vaulted a whopping 800 per cent on both the exchanges. vMoksha has an international presence across US, Europe, Singapore and India.
Helios, which is into banking software is on an acquisition spree and has already acquired over four companies in the last three years. Considering the global presence it may get, the company may be something to look out for.