Zensar Technologies to acquire ThoughtDigital LLC, USA

Zensar Technologies Ltd has announced that a Membership Purchase Agreement has been executed on February 23, 2007 between Zensar Technologies Inc., USA, the wholly owned subsidiary of the Company and ThoughtDigital LLC, USA, a Delaware Ltd liability company and its holding company SOA Software Inc., for purchase of the whole of the business of ThoughtDigital LLC., USA.

A special purpose vehicle Zensar TD LLC, USA, a Delaware Ltd liability company has been organized to acquire, own and operate the whole business operated by and under the name of ThoughtDigital LLC., USA, Zensar Technologies Inc., the wholly owned subsidiary of the Company would acquire the 100% of the membership interest of Zensar TD LLC., USA.

As a consequence of the proposed acquisition, the Company will get indirect 100% ownership of Zensar Td LLC, USA.

Source : Equity Bulls

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