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Photo: iStock
Photo: iStock

Mphasis gains 4% after acquiring UK-based Datalytx

  • Mphasis through its wholly owned subsidiary, Mphasis Consulting, acquired Datalytyx for consideration up to GBP 13.3 million. The announcement was made after market hours on Thursday.

MUMBAI : Shares of IT firm Mphasis gained as much as 3.80% on Friday after it announced acquisition of Datalytx, a leading next-gen data engineering and consultancy company.

At 12:05 pm, the scrip traded at 1309.50 apiece, 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 up to GBP 13.3 million (about 130.4 crore). Datalytyx is a leading UK-based, Snowflake and Talend partner specializing in Next-Gen Data Engineering and consultancy company. The announcement was made after market hours on Thursday.

Mphasis said the acquisition is expected to provide access to provide access to strengthen company's Next-Gen Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services. The acquisition also provides access to highly skilled data professionals and sales professionals thereby creating an offshore pool of Snowflake and Talend expertise.

In April, Private equity giant Blackstone Group acquired 4.01% stake in Mphasis for about 525 crore after its share price fell more than one-third from its year-high in mid-March in a widespread market sell off because of Covid-19, thus raising its holding in the company to 56.21% from 52.20%, exchange filings showed.

From the beginning of the year, Mphasis gained 42% against a rise of 6% in the benchmark index, Sensex. From March lows, the stock more than doubled while Sensex was up 68%.

Mphasis reported net profit rise of 9.48% to Rs.299.22 crores for the period ended September 30, 2020 as against net profit of Rs.273.30 crores for the period ended September 30, 2019. Revenue from operations grew 12.8 percent to 2,435.4 crore in the reported quarter from 2,158.1 crore in the year-ago period.

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