Sonata Software rose 4.02% to Rs 309.50 at 14:01 IST on BSE after the company announced signing definitive agreement to acquire Australia-based Scalable Data Systems.
The announcement was made during trading hours today, 6 December 2018.Meanwhile, the S&P BSE Sensex was down 436.16 points, or 1.22% to 35,448.25.
On the BSE, 23,000 shares were traded in the counter so far compared with average daily volumes of 9441 shares in the past two weeks. The stock had hit a high of Rs 312 and a low of Rs 303 so far during the day. The stock hit a 52-week high of Rs 428.75 on 19 September 2018. The stock hit a 52-week low of Rs 214.60 on 6 December 2017.
Sonata Software, announced that it has signed definitive agreement to acquire Scalable Data Systems, headquartered in Brisbane, Australia. Scalable Data Systems is a highly respected provider of business solutions in the Australian market, with a history of more than 25 years and has built a solid reputation in providing Microsoft Dynamics 365 F&O solutions for industry leading clients in Australia especially in the manufacturing and wholesale & distribution.
Scalable's IP for Commodity Trading "CTRM" has now earned market leading reputation globally with due recognition accorded to the company as a Microsoft Gold and an ISV Partner.
Sonata software has been focused on being a digital transformation partner of choice for customers in retail, distribution, manufacturing, and travel industries with their unique platformation methodology, end-to-end digital platforms and alignment to be a strategic partner for Microsoft in their digital transformation initiatives, based on the Dynamics 365 Cloud based solution.
Sonata has in the past acquired IBIS, a US headquartered Dynamics 365 partner, and has its own IP, i.e. Brick and Click for retail and modern distribution, for distribution and manufacturing industries; and now with the Commodity IP from Scalable has extended supply chain capabilities focused on manufacturing and distribution industries.
On a consolidated basis, net profit of Sonata Software rose 37.08% to Rs 62.18 crore on 38.94% rise in net sales to Rs 593.07 crore in Q2 September 2018 over Q2 September 2017.
Sonata Software is a global technology company that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable.
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