Datamatics Global Services Limited agreed to acquire additional 23% stake in Datamatics Cloud Solution Private Limited from CloudGrowth Private Limited for INR 16.5 million.

Datamatics Global Services Limited (NSEI:DATAMATICS) agreed to acquire additional 23% stake in Datamatics Cloud Solution Private Limited from CloudGrowth Private Limited for INR 16.5 million on May 8, 2024. Prior to the transaction, Datamatics Global Services Limited (NSEI:DATAMATICS) held 77%. Under the terms, Datamatics Global will pay initial payment of INR 12.4 million and additional deferred payment of up to INR 4.1 million shall be paid in October 2024 subject to fulfilment of terms and conditions to acquire 2,300 equity shares Datamatics Cloud Solution.

The transaction has been approved by board of Datamatics Global Services.