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Datamatics Global Services rises as its arm to acquire 100% stake in TNQ Tech
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Datamatics Global Services is currently trading at Rs. 640.90, up by 4.70 points or 0.74% from its previous closing of Rs. 636.20 on the BSE.
The scrip opened at Rs. 648.00 and has touched a high and low of Rs. 658.65 and Rs. 638.65 respectively. So far 11589 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 785.00 on 15-Dec-2023 and a 52 week low of Rs. 455.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 658.65 and Rs. 584.05 respectively. The current market cap of the company is Rs. 3794.35 crore.
The promoters holding in the company stood at 66.41%, while Institutions and Non-Institutions held 1.62% and 31.97% respectively.
Datamatics Global Services’ material wholly owned subsidiary -- Lumina Datamatics has planned to sign the Share Purchase Agreement, Shareholders Agreement and other agreements (Definitive Agreements) on December 09, 2024 to acquire 100% stake in TNQ Tech (TNQTech), a Chennai based digital publishing technology and services company renowned for quality, efficiency, and innovation through purchase of shares from its existing shareholders in one or more tranches in accordance with the terms of Definitive Agreements.
This acquisition will collectively strengthen the companies to over 6,500 employees globally and establish them as amongst the dominant service providers in the world of digital content. In combination with the company’s existing capabilities at being at the forefront of content workflows by managing the entire publishing process – from online content creation to product delivery, this acquisition will enable it to strengthen its suite of AIenabled technology and products which are used by some of the largest commercial publishers, prestigious learned societies, associations, and university presses, and marquee customers through them, by millions of authors. Post-acquisition, TNQ Tech will become stepdown subsidiary of Datamatics Global Services.
Datamatics Global Services provides intelligent solutions for data driven businesses to increase productivity and enhance the customer experience.
