Megasoft Limited (BSE:532408) agreed to acquire 40% stake in EXTROVIS AG for $16 million on May 4, 2022. For the year 2021, EXTROVIS reported turnover of $3.9 million. Megasoft has the option to further acquire 11.6% stake in Extrovis AG either through direct fund infusion or through share swap, subject to requisite approvals as may be required at such time. As of September 2, 2022 Megasoft Limited has remitted $5.5 million for 17.93 % of equity stake as part of the first tranche. The transaction is subject to approval from RBI and has been approved by board of Megasoft Limited. As on September 20, 2022, Megasoft Limited has remitted $7 million for 15.25% of euity stake as part of second tranche. As of December 12, 2022, Megasoft Limited has remitted $3.28 million for 5.35% of additional equity stake as part of third tranche. As of January 19, 2023 Megasoft Limited has remitted $1 million for 1.47% equity stake as part of the fourth tranche. The transaction is expected to close by August 2023.

Megasoft Limited (BSE:532408) completed the acquisition of 40% stake in Extrovis AG on January 19, 2023.