The company has completed acquisition of 70% equity in Vedang Cellular Services Private Limited on November 10, 2017. The purchase consideration for this deal is Rs 400 millions.
The company has completed the acquisition of 70% equity in Vedang Cellular Services Private Limited on November 10, 2017. The purchase consideration for this deal is Rs 400 million.
Quess Corp announced on October 25, 2017, that it will be acquiring Vedang Cellular Services Private Limited. The company had signed a definitive agreement to acquire 70% stake in equity in Vedang Cellular Services.
Vedang is in the business of Telecom Network Optimization and Installation of Active Components in the Telecom Network. The company has over 1,500 professionals and reported a revenue of Rs 78 Cr in FY-17.
Vedang Cellular complements the company’s current capabilities in telecom network management in terms of diversified service offerings, geographical reach and customer base.
The stock is trading at a price of Rs 831, up by 1.1% or Rs 9 on NSE at 2.49 pm.
The promoters hold 81.52% stake in the company.
(c) 2017India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers