Izmo moves higher as its arm acquires Geronimo Web
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Izmo is currently trading at Rs. 450.40, up by 21.80 points or 5.09% from its previous closing of Rs. 428.60 on the BSE.
The scrip opened at Rs. 441.60 and has touched a high and low of Rs. 481.35 and Rs. 439.85 respectively. So far 21721 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 481.35 on 09-Jul-2024 and a 52 week low of Rs. 153.30 on 18-Aug-2023.
Last one week high and low of the scrip stood at Rs. 481.35 and Rs. 382.05 respectively. The current market cap of the company is Rs. 656.54 crore.
The promoters holding in the company stood at 31.90%, while Institutions and Non-Institutions held 2.44% and 65.66% respectively.
Izmo’s US-based subsidiary -- izmo Inc., has acquired Geronimo Web, a provider of digital marketing programs for automotive OEMs and dealerships. Geronimo Web is a global leader in its category, and this acquisition makes izmo one of the largest providers of digital web platforms across Europe, USA and South America. These are important markets for izmo and offer tremendous growth opportunities.
Post the acquisition, izmo’s clientele will expand to over 4,000 automotive dealers worldwide, offering services in 37 countries, in 16 languages. Geronimo brings an extensive dealer client base and long-standing OEM relationships, which will complement izmo’s product portfolio to help clients drive their digital retail strategies.
Izmo is the world leader in interactive marketing solutions.
