 "Zensar Technologies surges on acquisition of UK-based Foolproof")
Zensar Technologies has moved higher by 15% to Rs 1,070 on BSE in intra-day, after the company acquired UK-based Foolproof along with its three wholly owned subsidiaries for an undisclosed amount.
“Zensar Technologies (UK), a wholly owned subsidiary Zensar Technologies, an RPG Company and the shareholders of Foolproof, announced that they have entered to a definitive agreement for Zensar to acquire Foolproof along with its three wholly owned subsidiary companies in UK and one wholly owned subsidiary company in Singapore for an undisclosed amount,” Zensar Technologies said in a release.
The deal will be financed by internal accruals, and will be earning per share (EPS) positive for the company, it added.
Founded in 2002, Foolproof is a London, UK headquartered company working in the customer experience/ user experience space. They provide consulting and design services to global corporations in defining and managing user experience for their products and services.
With the Foolproof acquisition, around 30% of Zensar revenue will be through Digital services. Foolproof’s experience design capabilities in the UK will enable Zensar to provide end-to-end digital services for the CMO and CDO organizations, Zensar Technologies said.
At 03:07 pm, the stock was up 12% at Rs 1,045 on BSE, as compared to 1.2% decline in the S&P BSE Sensex. A combined 419,002 shares changed hands on the counter on BSE and NSE so far.
“Zensar Technologies (UK), a wholly owned subsidiary Zensar Technologies, an RPG Company and the shareholders of Foolproof, announced that they have entered to a definitive agreement for Zensar to acquire Foolproof along with its three wholly owned subsidiary companies in UK and one wholly owned subsidiary company in Singapore for an undisclosed amount,” Zensar Technologies said in a release.
The deal will be financed by internal accruals, and will be earning per share (EPS) positive for the company, it added.
Founded in 2002, Foolproof is a London, UK headquartered company working in the customer experience/ user experience space. They provide consulting and design services to global corporations in defining and managing user experience for their products and services.
With the Foolproof acquisition, around 30% of Zensar revenue will be through Digital services. Foolproof’s experience design capabilities in the UK will enable Zensar to provide end-to-end digital services for the CMO and CDO organizations, Zensar Technologies said.
At 03:07 pm, the stock was up 12% at Rs 1,045 on BSE, as compared to 1.2% decline in the S&P BSE Sensex. A combined 419,002 shares changed hands on the counter on BSE and NSE so far.