Financial Daily from THE HINDU group of publications
Friday, Feb 03, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 03, 2006 |
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Info-Tech
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Mergers & Acquisitions Mascon to buy US, Singapore cos Our Bureau
Chennai , Feb. 2 MASCON Global Ltd is to acquire US-based Anthem Technologies Inc and Singapore-based Comtel Holdings Pte Ltd at a valuation of $19 million (about Rs 85 crore). The software company will also acquire at par 100 per cent equity shares of Exalt Systems Ltd, a Hyderabad-based software company. Mascon's board approved the acquisition at a meeting on Tuesday, according to information sent to the Bombay Stock Exchange. The board also approved an increase in the company's authorised capital to Rs 350 crore from Rs 240 crore. Mascon plans to issue equity shares on preferential basis through various mediums, including convertible preference shares, not exceeding Rs 175 crore. ICICI Bank Ltd has agreed to subscribe to the preferential issue for Rs 25 crore at a price decided as per SEBI guidelines.
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