Financial trading firm Choice International today said it has received the approval from its board for acquisition of 30.38 per cent stake in software firm Zenu InfoTech.
The board consented to acquire 30.38 per cent stake in Zenu InfoTech, Choice International said in a filing to the BSE.
A share purchase agreement is being entered between the present promoters of Zenu InfoTech and the company, it further said.
As part of its business expansion programme, the company has identified BPO and KPO as a major area of thrust. "In this context, it is the opinion of the board that a company in the software industry would offer synergy in operations," it said.
Shares of Choice International were trading at Rs 132, down 0.79 per cent in the late afternoon trade on the BSE.