Shares of Zensar Technologies today surged nearly 13 per cent after the company acquired Foolproof Ltd along with its two wholly-owned subsidiaries in the UK and one unit in Singapore for an undisclosed amount.
The stock zoomed 12.57 per cent to settle at Rs 1,048.40 on BSE. During the day, it rallied 14.89 per cent to Rs 1,070.
On NSE, it jumped 12.62 per cent to end at Rs 1,047.25.
The acquisition will add 100 consultants and strengthen Zensar's digital capabilities, the company said in a release.
"Under the terms of the agreement, Foolproof will now be a wholly-owned subsidiary of Zensar Technologies (UK) Ltd. The deal will be financed by internal accruals and will be EPS positive for the company," Zensar said.
Headquartered in London, Foolproof is one of Europe's leading experience design agencies and has offices in Norwich and Singapore.
Founded in 2002, the company helps global brands design digital products and services for customers and counts many Global500 firms amongst its clients.
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