The board approved acquisition of two companies.
Mobileware
Paying 15.6 Cr for a 26% stake for a company with turnover of 17Cr. Valuation is about 4x. Seems about same valuation ratio of Zaggle, though we do not know about earnings of Mobileware.
SpanAcross IT solutions
They are acquiring 98% stake for about Rs 30 Cr, for a company that has a turn over of Rs 4.73 Cr. Something doesn’t add up as it is an order of magnitude higher than expected… Please let me know if I am doing something wrong.
Also, am confused on this one. They say it is related party, but promoters have no interest in entity acquired…
Disc: Invested
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