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Mphasis falls 1% after it acquires Stelligent Systems for Rs 175 crore

9 November, 2018 4:23 AM
46 0
Mphasis falls 1% after it acquires Stelligent Systems for Rs 175 crore

Shares of Mphasis fell around a percent as investors reacted to the news of an acquisition.

The stock touched an intraday high of Rs 940.40 and an intraday low of Rs 920.75.

The IT firm acquired Stelligent Systems in an all-cash deal valued at $25 million (about Rs 175 crore).

Headquartered in Reston, US, Stelligent provides DevOps and DevSecOps solutions on Amazon Web Services (AWS).

Mphasis has acquired Stelligent from Hosting.com Inc that had bought the company in March last year, Mphasis said in a BSE filing.

The acquisition is expected to provide access to strategic proposition in Cloud DevOps and DevSecOps within AWS ecosystem, the filing said.

It added that the transaction also provides Mphasis capabilities, experience and certified AWS DevOps engineers as well as participation in various AWS programmes.

Source: moneycontrol.com

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