XTGlobal Infotech Ltd to acquire Network Objects Inc

A Meeting of the Board of Directors of M/s. XTGlobal Infotech Limited will be held on Wednesday - 29th December, 2021 through Video Conferencing at 10:00 AM, to consider and approve the proposal to authorise a director to execute share transfer deed and to perform other formalities for acquiring shares of Network Objects Inc.

The board will also consider and approve allotment of 1,30,00,828 Equity Shares of Re.1/- at a price of Rs.25.20/- per share on preferential basis for consideration other than cash against acquisition of 44.33% stake in Network Objects Inc. (USA based company)

The company is primarily operating in the Cloud, Security, Mobility, ERP, Big Data and Enterprise Application Integration marketplace, Java, MS Technologies and other IT allied services.

The acquisition valuation is $10 million overall corporate valuation at about 7.5 times EBITDA with about $2 million in net assets.

Shares of Xtglobal Infotech Ltd was last trading in BSE at Rs. 33.10 as compared to the previous close of Rs. 33.45. The total number of shares traded during the day was 22619 in over 156 trades.

The stock hit an intraday high of Rs. 34.50 and intraday low of 32.50. The net turnover during the day was Rs. 759970.00.

Source : Equity Bulls

Keywords

XtglobalInfotech INE547B01028 NetworkObjectsInc