MUMBAI : Shares of computer company Mphasis gained as much as 3.80% on Friday after the announcement of the acquisition of Datalytx, a next-generation data engineering and consulting company.
At 12:05 p.m., the certificates exchanged at ₹1,309.50 each, up 0.70% from its previous close, while the benchmark Sensex was flat at 43,610.45 points.
Mphasis, through its wholly-owned subsidiary, Mphasis Consulting, acquired Datalytyx for consideration of up to £ 13.3million (approx. ₹130.4 crore). Datalytyx is a leading UK-based partner, Snowflake and Talend, specializing in next-generation data engineering and consulting firm. The announcement was made Thursday after market hours.
Mphasis said the acquisition is expected to provide access to strengthen the company’s Data GTM Next-Gen strategy and provide higher-value partnership status with Snowflake and Talend for cloud data services. The acquisition also provides access to highly skilled data professionals and salespeople, creating an offshore pool of Snowflake and Talend expertise.
In April, private equity giant Blackstone Group acquired 4.01% stake in Mphasis for around ₹525 crore after its share price fell more than a third from its year high in mid-March in a widespread market sell-off due to Covid-19, thus increasing its stake in the company at 56.21% versus 52.20%, the exchange documents showed. .
From the start of the year, Mphasis gained 42% against a 6% increase in the benchmark Sensex. From the March lows, the stock more than doubled as Sensex was up 68%.
Mphasis announced an increase in net profit of 9.48% to Rs 299.22 crore for the period ended September 30, 2020, compared to a net profit of Rs 273.30 crore for the period ended September 30, 2019. ‘operations increased by 12.8% to ₹2,435.4 crore in the reported quarter of ₹2.158.1 crore in the period of the previous year.