Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Larsen & Toubro Infotech Ltd to acquire PowerupCloud

Posted On: 2019-10-17 18:54:02

Larsen & Toubro Infotech Limited (LTI) has signed a definitive agreement today after the Board of Directors of the Company at its meeting held today have approved acquisition of 100% shareholding of PowerupCloud Technologies Private Limited, having its registered office in Tamil Nadu and headquartered in Bangalore along with its' additional offices in Coimbatore, Singapore and Chicago.

PowerupCloud Technologies Private Limited ('PowerupCloud') having its registered office in Tamil Nadu and operating from its Bangalore office is an AWS Premier Consulting partner with capabilities in Cloud Consulting, migration, cloud native application development and managed services, data warehousing, BI dashboards, machine learning and Big Data and having product platforms Viz. 'Cloud Ensure: and 'Botzer'. PowerupCloud also specializes in Azure and GCP Cloud platforms.

It has over 180 employees with capabilities in cloud consulting, cloud managed services, Al and Data Analytics. The revenue for FY19 stood at USD 3.50 million.

This acquisition will help LTI strengthen its cloud services capabilities through a combination of right leadership, team, assets and ecosystem connects, which in turn will enable LTI to provide better services to its existing and new clients.

The enterprise value for 100% share capital of PowerupCloud is USD 15 million on a cash-free, debt-free basis subject to working capital adjustments. The consideration, will be paid as a combination of upfront and an earn-out over a period of three years.

The acquisition is subject to customary closing conditions which are expected to get completed within 6 weeks. The Company will inform the closure of the transaction to the Stock Exchange in the due course.

Shares of Larsen & Toubro Infotech Ltd was last trading in BSE at Rs.1498.9 as compared to the previous close of Rs. 1524.35. The total number of shares traded during the day was 25245 in over 1490 trades.

The stock hit an intraday high of Rs. 1540.9 and intraday low of 1494. The net turnover during the day was Rs. 38023761.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Aurobindo Pharma Ltd's Unit IV gets 14 observations from US FDA

Veto Switchgears and Cables reports Q2 FY20 results

Vedanta's Aluminium & Power Business wins Jamkhani Coal Block

Oracle Financial Services Software Reports Q2 Fiscal Year 2020

UFlex Closes Q2 of FY19-20 with EBITDA of 279 cr

Trigyn Technologies Ltd results - Highlights for Q2 & H1 FY2019-20

Fermenta Biotech Ltd board approves interim dividend of Rs. 5 for 2019-20

Pidilite Industries reports Q2 FY20 earnings

Navneet Education Limited Board approves interim dividend of Rs. for 2019-20

Singer India Limited announces Q2, H1 FY20 results

Saksoft Ltd H1FY20 Revenue at Rs. 178.39 Crs

New India Assurance Company Ltd reports Rs. 530 crores PAT in Q2

Ashoka Buildcon Q2FY20 EPC Revenue at Rs. 862Crores

Mishra Dhatu Nigam Ltd secures order of Rs. 106 crores

Nilkamal Ltd Board approves interim dividend of Rs. 5 for 2019-20

Snowman Logistics Ltd announces Q2 FY20 results

Mindteck Reports Financial Results for the Quarter Ended September 30, 2019

Cardinal Health Partners with TCS to Transform its IT Operating Model

SpiceJet posts a loss in Q2

ITD Cementation India Ltd Q2 consolidated net profit at Rs. 21.68 crores

Fine Organic Industries Ltd reports consolidated PAT of Rs. 57.03 crores in Q2

Hindustan Tin Works Ltd Q2 net profit jumps to Rs. 4.22 crores

Nandan Denim Ltd Q2 PAT at Rs. 2.20 crores

Amines & Plasticizers Ltd Q2 consolidated net profit soars to Rs. 6.85 crores

Galaxy Surfactants Ltd Q2 FY20 consolidated PAT climbs to Rs. 67.07 crores

Munjal Auto Industries Ltd reports consolidated net profit of Rs. 1.38 crore in Q2

A K Capital Services Ltd consolidated Q2 net profit at Rs. 10.47 crores

Trigyn Technologies Ltd posts consolidated PAT of Rs. 14.63 crores in Q2

Power Mech Projects Ltd Q2 FY20 consolidated net profit at Rs. 35.10 crores

SPL Industries Ltd Q2 net profit rises to Rs. 12.02 crores

Apex Frozen Foods Ltd Q2 net profit at Rs. 21.92 crores

KSE Ltd reports PAT of Rs. 4 crores in Q2

SEAMEC Ltd consolidated Q2 net profit at Rs. 26.82 crores

Nilkamal Ltd consolidated Q2 PAT at Rs. 49.01 crores

Gulshan Polyols Ltd reports net profit of Rs. 5.73 crores in Q2

Aarti Industries Ltd Q2 consolidated PAT at Rs. 147.56 crores

Permanent Magnets Ltd Q2 PAT higher at Rs. 3.71 crores

TD Power Systems Ltd reports consolidated PAT at Rs. 5.74 crores

CMI Ltd reports net profit of Rs. 1.09 crore in Q2

Cosmo Films Ltd Q2 consolidated PAT up at Rs. 28.70 crores

BATA India Ltd consolidated Q2 net profit at Rs. 71.30 crores

Finolex Cables Ltd posts consolidated PAT of Rs. 126.84 crores in Q2 FY20

Shreyans Industries Ltd reports net profit of Rs. 7.81 crores

Haryana Leather Chemicals Ltd posts PAT of Rs. 0.51 crore in Q2

Wanbury Ltd Q2 net profit at Rs. 5.02 crores

Saregama India Ltd consolidated Q2 net profit up at Rs. 19.26 crores

Himadri Speciality Chemical Ltd reports consolidated PAT at Rs. 45.16 crores

Thermax Ltd reports consolidated PAT declines to Rs. 25.70 crores

Lux Industries Ltd consolidated Q2 PAT at Rs. 40.59 crores

Indian Hume Pipe Company Ltd Q2 PAT slides to Rs. 14.20 crores







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

disclaimer copyright © 2005 - 2019