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MUMBAI, Aug 10: SSI Ltd is planning to acquire Indigo International of Delaware in the USA, a holding company having subsidiaries in California and Chennai that are engaged in software development specialising in web based trading solutions and stock exchange automation at a cost of Rs 12.06 crore.
According to release issued by SSI, the dilution in equity of SSI is relatively small (around 2 per cent) in comparision with the capital base of the firm and there would not be any drop in earnings per share since SSI intended to merge various business units of Indigo with SSI after obtaining requisite approvals. The acquisition will create additional quality revenues channels for the company in the medium to long term and shareholders value will be enhanced, the release added.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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