Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Zensar divests its non-core TPM / MVS Business

Posted On: 2020-10-19 08:41:33 (Time Zone: Arizona, USA)

Zensar, a digital solutions and technology services company that specialises in partnering with global organisations on their digital transformation journey, announced that it has entered into an agreement with Service Express LLC to divest its global Third Party Maintenance (TPM) business. This is in line with Zensar's commitment to focus on and invest in its core businesses which comprised 96 % of its revenues as on Q1FY21.

The TPM business provides third party hardware maintenance support for a wide variety of data center equipment and platforms. These services include remote support, call handling, spare parts, logistics management, replacement & installation, repairs and field support.

As part of its long-term strategy, Zensar had identified two non-core businesses, comprising Rest of the World (RoW) business and the TPM business. Zensar had divested the RoW business last year and is now divesting the TPM business.

Under the terms of the transaction, Zensar's TPM business will be transferred to Service Express, a leading TPM service provider headquartered in the US, by way of a 100% share sale of Zensar' s equity shareholding in PSI Holding Group Inc., a wholly owned subsidiary of Zensar Technologies Inc. The closing of the transaction is subject to approval by shareholders of Zensar Technologies Limited.

Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies commented, "With the divestment of both the non-core businesses, RoW earlier and TPM with this transaction, our complete focus and attention is to grow our core businesses comprising of Digital, Cloud and IT services business. We are executing very well to our long term strategic priorities and growth."

Speaking on this announcement, Ron Alvesteffer, Chief Executive Officer of Service Express said, "This business is in line with our core offerings and we are confident that it will help accelerate our growth in the TPM industry."

Navneet Khandelwal, Chief Financial Officer, Zensar Technologies added, "Zensar is committed to redesign its business strategy to meet changing demands of the marketplace. This divestiture provides us with additional resources to invest in primary business areas, which will be of relevance to our customers and partners. The transaction will be EBITDA, PAT, Cashflow and ROCE accretive to Zensar."

Shares of ZENSAR TECHNOLOGIES LTD. was last trading in BSE at Rs.185.2 as compared to the previous close of Rs. 182.5. The total number of shares traded during the day was 9916 in over 345 trades.

The stock hit an intraday high of Rs. 188 and intraday low of 182. The net turnover during the day was Rs. 1831532.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Ircon International Ltd cancels tender awarded to H G Infra Engineering ltd

Central Bank of UAE imposes sanction of Rs. 13.56 crores approx. on Bank of Baroda, GCC Operations

Sangam Renewables Ltd bags multiple solar power EPC projects

IndiGo sends heartfelt gesture to 5000 nominated frontline workers under Tough Cookie campaign

Aarnav Fashions Ltd Q3 net profit at Rs. 0.85 crore

Ganesha Ecosphere Ltd reports Rs. 20.10 crore consolidated PAT in Q3 FY2020-21

RPG Life Sciences Ltd posts higher PAT of Rs. 12.87 crore in Q3FY21

Datamatics wins the Market Research Society of India (MRSI) Golden Key Awards 2020

CRISIL reaffirms ratings of Vardhman Special Steels Limited, revises outlook

UCO Bank announces Financial Results for the Quarter Ended 31st December 2020

Dr. Lalit Kanodia Laureate Award for Technological Excellence 2020 awarded to VTION

Dr. Agarwals Eye Hospital Ltd reports PAT of Rs. 4.43 crore in Q3FY21

Wipro appoints Douglas Silva as Country Head for Brazil

Precision Camshafts Limited receives award from the IPF Industrial Excellence Forum 2021

L&T Q3FY21 consolidated PAT at Rs. 2466.71 crore

ICICI Securities Ltd posts Rs. 267.02 crore consolidated PAT in Q3 FY2020-21

Benares Hotels Ltd Q3 PAT at Rs. 0.54 crore

Navin Fluorine International Ltd Q3FY21 consolidated PAT at Rs. 56.44 crore

CG-VAK Software & Exports Ltd Q3FY21 consolidated PAT climbs to Rs. 1.74 crore

TCS' AI-powered Merchandise Optimization Suite Optumera™ Honored by AIconics Awards

KIFS Financial Services Ltd Q3FY21 PAT at Rs. 0.40 crore

Astec LifeSciences Ltd Q3 consolidated PAT slides to Rs. 7.05 crore

Agro Tech Foods Limited restarts commercial production

CARE maintains rating of TGV SRAAC Ltd

Mahindra Holidays & Resorts India Limited announces results for the quarter ended 31stDecember 2020

Can Fin Homes Ltd Q3 FY2020-21 net profit up at Rs. 131.91 crore

Genus Paper & Boards Ltd Q3FY21 net profit at Rs. 4.15 crore

Chennai Petroleum Corporation Ltd Q3FY21 consolidated loss at Rs. 546.41 crore

Sharda Cropchem Ltd Q3FY21 consolidated PAT jumps to Rs. 48.30 crore

Natural Capsules Ltd reports consolidated PAT of Rs. 1.62 crore in Q3FY21

TGV Sraac Ltd reports lower Q3FY21 net profit of Rs. 9.85 crore

Aarti Drugs Ltd Q3FY21 consolidated PAT drops QoQ to Rs. 68.04 crore

Lakshmi Electrical Control Systems Ltd Q3FY21 net profit at Rs. 0.0875 crore

PG Electroplast Ltd Q3FY21 net profit rises to Rs. 6.49 crore

Kirloskar Ferrous Industries Ltd Q3 net profit jumps to Rs. 118.32 crore

Stylam Industries Ltd reports Rs. 12.46 crore consolidated PAT in Q3FY21

Vinyl Chemicals India Ltd posts Rs. 4.83 crore PAT in Q3 FY2020-21

APL Apollo Tubes Ltd Q3FY21 consolidated PAT higher at Rs. 132.04 crore

Thomas Cook India inks strategic agreement with Destination Maldives

PNC Infratech Limited receives LOAs for Six New Rural Drinking Water Supply Projects on EPC mode for an aggregate value of Rs. 2475.00 crore

Arihant Capital Markets Ltd posts consolidated PAT of Rs. 8.94 crore in Q3FY21

Kotak Mahindra Bank posts Rs. 2575.74 crores consolidated PAT in Q3 FY2020-21

Shri Jagdamba Polymers Ltd Q3 net profit jumps to Rs. 11.35 crore

UCO Bank Q3FY21 PAT at Rs. 35.44 crore

DCW Limited board approves fund raising through warrants

Lupin Receives approval for Sevelamer Carbonate Tablets

Strides receives USFDA approval for Ursodiol Capsules

Kiri Industries Limited starts commercial production of Specialty Intermediates at Vadodara Palnt

Bannari Amman Spinning Mills Ltd board approves stock split, CDR

Padget Electronics to commence manufacturing of Nokia smartphones as HMD Global's manufacturing partners

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020