XTGlobal Infotech Ltd to acquire Network Objects Inc


A meeting of the board of directors of M / s. XTGlobal Infotech Limited will be held on Wednesday, December 29, 2021 by videoconference at 10:00 a.m., to examine and approve the proposal to authorize a director to sign a deed of transfer of shares and to carry out other formalities to acquire shares of Network Objects Inc .

The board of directors will also examine and approve the allotment of 1,30,00,828 participating shares of Re.1 / – at a price of Rs 25.20 / – per share on a preferential basis for a consideration other than cash against the acquisition of 44.33% of the capital of Network Objects. Inc. (company based in the United States)

The company mainly operates in the market of Cloud, Security, Mobility, ERP, Big Data and integration of enterprise applications, Java, MS Technologies and other IT services.

The acquisition valuation is $ 10 million overall valuation of the company at approximately 7.5 times EBITDA with approximately $ 2 million in net assets.

Xtglobal Infotech Ltd shares were last trading in BSE at Rs. 33.10 from the previous close of Rs. 33.45. The total number of shares traded during the day was 22,619 in more than 156 trades.

The action hit an intraday high of Rs. 34.50 and an intraday low of 32.50. The net turnover during the day was Rs. 759,970.00.


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