XTGlobal Infotech Limited (BSE:531225) agreed to acquire a 44.33% stake in Network Objects, Inc. for approximately INR 390 million on December 8, 2020. This is an all stock deal, to be completed through swapping of shares. As a part of consideration, XTGlobal Infotech Limited will allot 13.000828 million shares on a preferential basis at an issue price of INR 25.2 per share to the shareholders of Network Objects, Inc. In a related transaction, XTGlobal Inc., USA a step-down subsidiary of XTGlobal Infotech Limited agreed to acquire remaining 55.67% stake in Network Objects, Inc. on December 8, 2020. Allotment of share to the shareholders of Network Objects, Inc. is subject to approval of shareholders of XTGlobal Infotech Limited, further legal procedures and obtaining statutory approvals as may be required.