MPS surges as its arm to acquire 65% stake in Liberate Group entities
MPS is currently trading at Rs. 1573.45, up by 59.30 points or 3.92% from its previous closing of Rs. 1514.15 on the BSE.
The scrip opened at Rs. 1605.00 and has touched a high and low of Rs. 1605.00 and Rs. 1543.90 respectively. So far 1863 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1654.05 on 21-Aug-2023 and a 52 week low of Rs. 620.00 on 03-Oct-2022.
Last one week high and low of the scrip stood at Rs. 1647.35 and Rs. 1425.05 respectively. The current market cap of the company is Rs. 2686.04 crore.
The promoters holding in the company stood at 68.34%, while Institutions and Non-Institutions held 4.45% and 27.21% respectively.
MPS Interactive Systems (MPSi), one of the wholly-owned subsidiaries of MPS, has agreed to acquire 65% of the issued and paid-up share capital of each of Liberate Learning (Australia), Liberate eLearning (Australia), App-eLearn (Australia), and Liberate Learning (New Zealand) (Liberate Group) and has executed a Share Purchase Agreement (SPA) dated August 29, 2023, for consideration of AUD 9.32 million. The consideration is payable as per the terms of SPA and other transaction documents.
The remaining 35% shareholding of each of the entities of Liberate Group will be acquired by MPSi in subsequent tranches based upon valuation methodology as agreed under the transaction documents.
MPS is a leading global provider of platforms and content solutions for the digital world. The long service history as a captive business allowed MPS to build unique capabilities and talents through strategic partner programs.
