Adroit Infotech Ltd enters into non-binding share purchase agreement to acquire 100% stake of US Based ERP solutions Company

Adroit Infotech Ltd (NSE: ADROITINFO, BSE 532172): The Certified SAP Services Partner Adroit Infotech Ltd has entered into non-binding share purchase agreement with a US based ERP Solutions Company, as a part of its inorganic growth strategy, as per a notice sent to the National Stock Exchange and Bombay Stock Exchange.

- This step will enable Adroit Infotech to move closer to its strategic objective to build sustainable organization that remains relevant to the agenda of its clients.

- On Completion of this Acquisition, Adroit will increase its North America presence significantly.

- This Acquisition will allow Adroit to sell other ERP Solutions (Oracle) along with SAP Solutions.

- In addition to the above, Consolidated Revenues on acquisition would increase by 3-4 multiples.

This Company is a national IT consulting company specializing in: Oracle EBS/Cloud Solutions, SAP Solutions and Technology Staff Augmentation. They collaboratively work with their clients to determine a logical and cost-effective roadmap for their functionality/application deployments, rollouts, upgrades and ongoing support. They pride themselves on the resources they deploy on the projects and within the staff augmentation roles. They create an environment that attracts top talent and most importantly retains them.

"Adroit's Acquisition of the US based Company. will help us to leverage our position in the Medium and large Industries segment, and increase our services across US and Canada," Mr Sudhakiran Reddy, MD, Adroit Infotech Ltd stated.

On completion of this Acquisition, Adroit consolidated revenues will increase significantly. It will help Adroit sell its SAP solutions in USA and Canada more aggressively along with other ERP (Oracle) solutions, which the US Based company is into. This Acquisition will increase the consolidated profits also.

Our strategic objective is to build a sustainable organization that remains relevant to the agenda of our clients, while generating profitable growth for our investors. We will deploy our capital in making selective business acquisitions that augment our expertise, complement our presence in certain market segments and accelerate the execution of our strategies, Mr Sudhakiran Reddy, MD, Adroit Infotech stated.

Shares of Adroit Infotech Limited was last trading in BSE at Rs. 19.72 as compared to the previous close of Rs. 19.17. The total number of shares traded during the day was 13104 in over 63 trades.

The stock hit an intraday high of Rs. 19.74 and intraday low of 19.00. The net turnover during the day was Rs. 257051.00.

Source : Equity Bulls

Keywords

AdroitInfotech INE737B01033 Acquisition USbased ERPSolutionsCompany