Ace Software Exports Ltd invests in Ace Infoway Pvt Ltd

Pursuant to the approval of the members of Ace Software Exports Limited at the Extraordinary General Meeting of the Company held on February 2, 2024, the company has successfully invested in/acquired a 40% stake in Ace Infoway Private Limited ("Ace Infoway") for a total consideration of ₹8,60,00,000/- (Rupees Eight Crore Sixty Lakhs Only).

The Company in order to add a new growth driver both domestically and globally have decided to acquire 40% stake in Ace Infoway Private Limited. The Company believes that it can supplement and complement the business of Ace Infoway Private Limited and can bring significant value not only to both the entities but also to its customers and shareholders.

Ace Infoway Pvt Ltd. is a dedicated 'Go-To' Technology Partner for Web/Software Services for the last 23 years and catering to various industry verticals across the globe as an offshore development center along with consulting & creating unique business solutions.

Shares of ACE SOFTWARE EXPORTS LTD. was last trading in BSE at Rs. 82.93 as compared to the previous close of Rs. 81.31. The total number of shares traded during the day was 413 in over 6 trades.

The stock hit an intraday high of Rs. 82.93 and intraday low of 82.93. The net turnover during the day was Rs. 34250.00.

Source : Equity Bulls

Keywords

ACESOFTWAREEXPORTS INE849B01010 Investment AceInfoway