Cambridge Technology zooms on acquiring 100% stake in Appshark Software, Inc
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Cambridge Technology Enterprises is currently trading at Rs. 83.50, up by 5.28 points or 6.75% from its previous closing of Rs. 78.22 on the BSE.
The scrip opened at Rs. 79.60 and has touched a high and low of Rs. 86.30 and Rs. 79.60 respectively. So far 36630 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 88.00 on 14-Dec-2023 and a 52 week low of Rs. 46.00 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 86.30 and Rs. 75.90 respectively. The current market cap of the company is Rs. 165.19 crore.
The promoters holding in the company stood at 46.91%, while Institutions and Non-Institutions held 0.05% and 53.04% respectively.
Cambridge Technology Enterprises has completed acquisition of 100% of shares/voting rights of Appshark Software, Inc on January 23, 2024. With this, Appshark Software, Inc is 100% wholly owned subsidiary of the company with effect from January 23, 2024. Cost of acquisition is Rs 42.16 crore. The proposed acquisition is in line with the long-term outlook of the company in venturing in the IT space across geographical areas.
Cambridge Technology Enterprises (CTEL) is a global technology services and outsourcing company dedicated to serving the midsize market of enterprises and the midsize units of Global 2000 enterprises across the spectrum of business industries.
