Sonata Software Limited (Sonata), has signed an agreement with Treeni Sustainability Solutions Inc. a Delaware (US) based Company (hereinafter referred to as "Treeni") on 20th May, 2020 to acquire upto 24% stake in Treeni for an investment of upto US$ 1 million, including cash as well as services.
Treeni Sustainability Solutions Inc., is a Delaware (US) based company with a specialized platform helping enterprises with Sustainability and ESG (Environmental, Social and Governance). The company is in early stages of revenue generation.
Treeni has developed "Resustain" a cloud-based platform that provides enterprises a 360-degree view into their ESG data and risks. It is modular and addresses sustainability functionality that spans Data Management, Performance Management & Analytics, Reporting & Disclosures, CSR, Supply Chain and EHS. The platform is architected for the cloud and big data enabled, it is easy to use, highly configurable solution that can be deployed rapidly. With a powerful data transformation engine, enterprise integration and the critical need to automate data integration, management and transformation becomes a reality. It's expertise ranges from initial program consultation, through to advanced analytical insights into customer experience that helps enterprises deliver better customer experience.
This investment is an extension of Sonata's Platformation™ play that further strengthens our singular focus of becoming a Digital transformation Partner of choice to its customers. With this investment Sonata will be able to offer additional value to its customers, while Treeni will gain access to Sonata's engineering expertise and also Sonata's sales and marketing reach.
The transaction is expected to be completed over a time-span of 1 year to 18 months.
Shares of SONATA SOFTWARE LTD. was last trading in BSE at Rs.199.05 as compared to the previous close of Rs. 199.4. The total number of shares traded during the day was 16341 in over 1212 trades.
The stock hit an intraday high of Rs. 206 and intraday low of 196.8. The net turnover during the day was Rs. 3312618.