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Accentia Technologies Completes Acquisition of Asscent Infoserve
Posted On : 2007-03-26 01:59:55( TIMEZONE : IST )
Accentia Technologies Ltd has announced that the Company has completed the acquisition of Asscent Infoserve Pvt Ltd, Bangalore with the EGM of Shareholders of the Company at its meeting held on March 23 2007, approving the same.
The acquisition is commensurated with the issuance of Convertibles at a conversion price of Rs 1.50 per share.
With the above formalities being completed, Asscent Infoserve Pvt Ltd has formally become the wholly owned subsidiary of the Company. Bangalore based Asscent Infoserve Pvt Ltd has infrastructure facilities of 7,000 SFT, meant for Business Process Outsourcing Services.
The above acquisition is a step forward in strengthening the business model of the Company. With the acquisition complete, the Infrastructure Strengths of Asscent Infoserve will be fully utilized by the Company and the Company will have access to the 600-seater BPO facility located at Bangalore.
