Bangalore: Bangalore-based multinational information technology and outsourcing company, Mindtree Ltd, proclaimed that via an agreement it will obtain 100% stake in Relational Solutions Inc, a dedicated service provider of analytics in favor of end user packaged merchandise retail implementation, in an all cash deal for about Rs 63.48 crore.
This initiative will facilitate the company to toughen its digital services portfolio. Mindtree’s Board of Directors further gave its approval to acquire 100 per cent equity interest in UK-based Bluefin Solutions for Rs 419.6 crore. Relational exclusively offers technology services to the FMCG industry, whereas Bluefin provides SAP HANA solutions.
For Bluefin, the contemplation comprises of an upfront payment of Rs 337 crore and earn out of Rs 83 crore to be paid over the next three years. The company has also declared its monetary results for the quarter ended June 30, 2015.
It has placed 6.8 per cent jump in net revenue to Rs 138.2 crore in the said quarter from Rs 129.4 crore in the April-June 2014 period. Mindtree's returns augmented 16.3 per cent to Rs 981.6 crore in the quarter under review from Rs 843.5 crore in the previous year.