Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, on December 12 2019, had announced to strategically divest its stake in Cignex Datamatics Inc. to Relevance Lab, a Singapore headquartered IT Services Company, through a share-swap arrangement.
DGSL has today shared that the deal to divest stake in one of its subsidiaries, Cignex Datamatics Inc., could not be completed as shareholders did not approve the proposed resolution. The parties are reworking on the revised structure and commercial terms, as a result of which the current Share Purchase Agreement is likely to undergo a substantial change.
Speaking on the occasion, Rahul Kanodia, CEO, DGSL said; "We are working together on revised terms, and are confident that it will be beneficial for our company and its shareholders".
Cignex Datamatics Inc is a US-headquartered IT Services firm offering, Open Source, Cloud, and Automation services.
Shares of DATAMATICS GLOBAL SERVICES LTD. was last trading in BSE at Rs.76.2 as compared to the previous close of Rs. 78.25. The total number of shares traded during the day was 3800 in over 304 trades.
The stock hit an intraday high of Rs. 78.75 and intraday low of 76.15. The net turnover during the day was Rs. 293282.