01-01-1970 12:00 AM | Source: Accord Fintech
CE Info Systems gains on getting nod to acquire 26.37% stake in Kogo Tech Labs
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CE Info Systems is currently trading at Rs. 1383.85, up by 0.35 points or 0.03% from its previous closing of Rs. 1383.50 on the BSE.

The scrip opened at Rs. 1390.00 and has touched a high and low of Rs. 1405.50 and Rs. 1373.10 respectively. So far 3001 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1918.35 on 17-Jan-2022 and a 52 week low of Rs. 1129.50 on 11-May-2022.

Last one week high and low of the scrip stood at Rs. 1455.30 and Rs. 1354.75 respectively. The current market cap of the company is Rs. 7398.52 crore.

The promoters holding in the company stood at 53.73%, while Institutions and Non-Institutions held 10.86% and 35.41% respectively.

CE Info Systems (MapmyIndia) has received approval for acquisition of 26.37% stake on fully diluted basis of Kogo Tech Labs for Rs 10 crore, with an option to raise the stake to 50% within 2 years. Kogo Tech Labs belongs to Social Travel Commerce Platform. The indicative time period for completion of the acquisition is in 7 days.

This acquisition will deepen MapmyIndia’s Automotive OEM portfolio, enabling in-vehicle commerce, discovery, community engagement and brand stickiness. By integrating Kogo’s social travel commerce platform into the Mappls N-CASE platform, MapmyIndia will now additionally provide to Automotive OEMs across India and the world, next-generation gamification, loyalty, engagement, community, content & commerce solutions. This would help Automotive OEMs deliver a premium and engaging user first approach

CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). It is India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies.