Mumbai-based listed software development and IT consulting firm Prism Informatics Ltd is acquiring 51% stake in US-based TLC Technologies Inc, USA, a service provider in the business intelligence space.
Prism has entered into a share purchase agreement with the promoters of TLC Technologies for the same, it informed the Bombay Stock Exchange.
This is the second acquisition of the firm in the last five months. Earlier, in December, Prism acquired Nastek Solutions Pvt Ltd, a Mumbai-based company offering enterprise resource planning (ERP), customer relationship management (CRM) and e-commerce solutions. The financial terms of the transaction were not disclosed.
The TLC acquisition will be made through its subsidiary in the US. TLC Technologies provides services in the business intelligence and enterprise performance management solutions space. Its clients include Oracle, IBM and Microsoft.
The shares of Prism Informatics were traded at Rs 78.15 at 11:30 am in the Bombay Stock Exchange today. Last month, the company has decided to raise $5 million funds through convertible preference shares (CCP) or compulsory convertible debentures (CCD) or other such instruments.
Earlier, it had acquired Nexus System Resources Co Ltd, a company in Bangkok and Idhasoft Europe AG in Switzerland. It also acquired the intellectual property rights of some of the business assets of Mumbai’s Finasys Consultant Pvt Ltd.