At meeting held on 12 December 2016
Mastek announced that the Board of Directors of the Company at its meeting held on 12 December 2016 has accorded its approval for acquisition of 100% of equity shares of Trans American Information Systems by the Company.The board also accorded approval for giving a corporate guarantee and mortgage (to secure the proposed loan facility sanctioned by Axis Bank to Diligity Inc, US, a subsidiary of Mastek) to secure the said proposed term loan facility of USD 10 million to be availed by Digility Inc.
Diligity Inc. proposes to avail the aforesaid term loan facility of an aggregate principal amount of upto USD 10 million from Axis Bank UK to part finance the acquisition of two US based IT consulting and software services companies.
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