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Sonata Software shines as its arm to acquire entire stake in Encore Software Services

Sonata Software shines as its arm to acquire entire stake in Encore Software Services

Sonata Software is currently trading at Rs. 767.80, up by 11.45 points or 1.51% from its previous closing of Rs. 756.35 on the BSE.

The scrip opened at Rs. 750.05 and has touched a high and low of Rs. 770.00 and Rs. 750.05 respectively. So far 215 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 812.70 on 15-Jul-2021 and a 52 week low of Rs. 248.00 on 29-Jul-2020.

Last one week high and low of the scrip stood at Rs. 803.95 and Rs. 747.60 respectively. The current market cap of the company is Rs. 7953.72 crore.

The promoters holding in the company stood at 28.17%, while Institutions and Non-Institutions held 28.29% and 43.54% respectively.

Sonata Software’s wholly owned subsidiary — Sonata Software North America (SSNA) has signed a definitive agreement with the Shareholders of Encore Software Services, Inc. a California Corporation on July 28, 2021 to acquire 100% stake in Encore Software Services, Inc.

The acquisition will help Sonata enhance its capabilities in Cloud engineering, Application development and maintenance and data management and domain expertise in healthcare and pharmacy.

Sonata Software is a global IT services firm focused on catalysing transformational IT Initiatives of its clients through deep domain knowledge, technology expertise and customer commitment.

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