Bangalore-based MindTree, a global IT and R&D services company, completed the open offer to acquire equity stake in Aztecsoft Ltd. MindTree now holds 79.9 per cent equity stake in Aztecsoft. MindTree earlier this year acquired 32.57 per cent stake in the company for around Rs 117 crore.
MindTree Chief Executive Officer Krishnakumar Natarajan took over as the chairman & managing director of the company. Aztecsoft CEO Samir Bodas has been inducted on the Board of Directors. Other members-- Sunil Gulati, S R Gopalan and A V Sridhar will continue to serve on the Board as independent directors.
“Having successfully completed the open offer to acquire Aztecsoft shares, we will soon commence the process of merging Aztecsoft into MindTree, subject to regulatory and shareholder approvals,” said MindTree Chairman & Managing Director Ashok Soota . “We are pleased with the synergies between Aztecsoft and MindTree. It is turning out to be a win-win relationship for our customers, our people and other stakeholders.”
