Mastek group CFO and director finance Farid Kazani says the company is not acquiring Agile Tech, just acquiring its business. It is a strategic acquisition that will provide the company with great amount of leverage, he says.
Insurance technology and core system software solutions company Mastek has signed an agreement to acquire Agile Tech. Acquiring Agile, which has revenues of over USD 9 million, is a significant step in execution of Majesco's aggressive growth strategy. This acquisition will close in January 2015.
Majesco will continue to male investments and build its product portfolio through acquisitions and ongoing research and development.
Mastek group CFO and director finance Farid Kazani says the company is not acquiring Agile Tech, just acquiring its business. It is a strategic acquisition that will provide the company with great amount of leverage, he says. "It comes with 20 clients (Agile's clients) and almost 50 highly skilled employees," he adds.
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Mastek stock price
On December 12, 2014, at 14:14 hrs Mastek was quoting at Rs 281.65, up Rs 19.70, or 7.52 percent. The 52-week high of the share was Rs 337.00 and the 52-week low was Rs 134.00.
The company's trailing 12-month (TTM) EPS was at Rs 23.41 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 12.03. The latest book value of the company is Rs 153.48 per share. At current value, the price-to-book value of the company is 1.84.
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