| Saksoft has executed a Share Purchase Agreement (Agreement) to acquire 100% equity interest in Augmento Labs subject to the terms and conditions set out in the Agreement. Augmento Labs will become a wholly owned subsidiary of the Company on closure of the transaction.
This acquisition will strengthen Saksoft's capability in the digital engineering space and will also provide access to enterprise clients.
The cost of acquisition includes cash consideration of up to Rs 100 crore with an upfront cash consideration of Rs 35 crore and the balance as earnout consideration based on performance over two financial years.
Turnover of Augmento Labs for the year ended 31 March 2024 was around Rs. 45 crore. |