Happiest Minds Technologies Limited has executed a Share Purchase Agreement ("the Agreement") to acquire 100% equity interest in Macmillan Learning India Private Limited ("Macmillan Learning India"), subject to the terms and conditions set out in the Agreement. On closing the said transaction, Macmillan Learning India will become a wholly owned subsidiary of the Company.
The acquisition of 100% equity interest in the Macmillan Learning India further strengthens the already strong Edutech vertical of the Company. It also makes the Company a strategic partner for the Macmillan group who is a global leader in the business of learning, education and publishing.
The Purchase Consideration of Rs. 4.5 crores is payable in cash.
Macmillan Learning India is a wholly owned subsidiary of the Macmillan group, USA. The subsidiary provides software development services to the Macmillan group and has been working as an "Offshore Development Centre".
Shares of Happiest Minds Technologies Limited was last trading in BSE at Rs. 812.10 as compared to the previous close of Rs. 809.65. The total number of shares traded during the day was 62223 in over 4852 trades.
The stock hit an intraday high of Rs. 822.00 and intraday low of 795.15. The net turnover during the day was Rs. 50447994.00. |
