MPS Interactive Systems Limited acquires additional stake in Liberate Group

MPS Interactive Systems Limited ("MPSi"), a wholly owned and material subsidiary of MPS Limited ("the Company"), has completed the acquisition of an additional 17.50% of the issued and paid-up share capital of Liberate Learning Pty Ltd and App-eLearn Pty Ltd in accordance with the valuation methodology as agreed under the transaction documents. Following this transaction, the shareholding of MPSi in Liberate Learning Pty Ltd and App-eLearn Pty Ltd has increased from 65.00% to 82.50%. The acquisition of the remaining 17.50% shareholding in these two entities, as well as the 35% shareholding in Liberate eLearning Pty Ltd, is proposed to be completed in the near term.

Rahul Arora, Chairman and CEO of MPS Limited, stated: The corporate learning sector is one of our most dynamic growth areas. The acquisition of an additional stake in Liberate Group further aligns with our strategic objective to expand our global footprint and deliver comprehensive, technology-enabled learning solutions to clients worldwide.

Shares of MPS Limited was last trading in BSE at Rs. 2295.45 as compared to the previous close of Rs. 2312.95. The total number of shares traded during the day was 815 in over 144 trades.

The stock hit an intraday high of Rs. 2332.50 and intraday low of 2257.90. The net turnover during the day was Rs. 1864195.00.

Source : Equity Bulls

Keywords

MPS INE943D01017 Acquisition AdditionalStake MPSInteractiveSystems LiberateGroup