"The Board of Directors at their meeting held today has approved to acquire a further 25 per cent stake in ThreeSixty Logica Testing Services Pvt Ltd, subsidiary of the company," the Chennai-based company said in a BSE filing.
The board said it has authorised Saksoft's Chairman and Managing Director Aditya Krishna and Chief Financial Officer, Nirajkumar Ganeriwala to take up acquisition process.
"The cost of acquisition involved in acquiring 25 per cent stake is Rs 8 crore plus the proportionate share of Net Current Assets at the time of closing," the company said.
Saksoft said the demand for independent testing services was growing at a phenomenal rate in current social, mobile, analytics and cloud and e-commerce segments.
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"Saksoft focus on digital space and information management combined with the expertise in independent testing make the company a niche technology provider," it added.
The transaction is expected to complete by first week of July.
ThreeSixty Logica registered revenue of Rs 29.67 crore for the financial year 2015-16.