Cambridge Technology Enterprises Limited (BSE:532801) agreed to acquire Appshark Software, Inc. for $5 million on June 23, 2023. Consideration for upfront acquisition of 100% is $1.25 million. The future consideration is linked to future performance of the entity being acquired and other conditions, subject to maximum limit of $3.75 million. Appshark Software reported turnover of $4.187 million, profit after tax as $0.047 million and net worth of $0.691 million for the period ended on calendar year 2022. On recommendation of the Audit Committee, the Board of Directors at their meeting held today i.e., October 13, 2023, in partial modification of its earlier resolution dated June 23, 2023, approved. The transaction has been approved by the board of directors of Cambridge Technology and is expected to close on March 31, 2026.

Cambridge Technology Enterprises Limited (BSE:532801) completed the acquisition of Appshark Software, Inc. for $4.97 million on January 23, 2024.