Chennai: IT firm Saksoft Ltd has acquired US-based business intelligence and information management company, Electronic Data Professionals (EDP), through its subsidiary for an “undisclosed amount”.
The Chennai-based information management specialist company, in a filing to BSE, said EDP would operate as a separate entity in the US. It would be a direct subsidiary of Saksoft Inc., US.
“Saksoft Inc., US has completed acquisition of 100% stake in EDP, by signing a share purchase agreement on 31 December, in the US”, it said.
“EDP has been operational for seven years and has grown consistently well for the last few years. The terms of the deal have not been disclosed. The acquisition is effective immediately”.
“We have been impressed with the strength of EDP in the information management area and we believe for our US geography’s growth, this acquisition is a good fit”, Saksoft, CEO, Aditya Krishna said.
“Saksoft is investing in sales, marketing and delivery capabilities for the US market and EDP will be an additional channel for client acquisition and account management,” he added.
Shares of the company closed at Rs 45.60 apiece, gaining 6.29% on BSE on Tuesday.