MARKET EYE-MphasiS shares jump after Digital Risk buy

Mon Dec 3, 2012 11:10am IST

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* Shares in MphasiS Ltd rose as much as 6.1 percent
after the company, a unit of Hewlett-Packard Co, agreed
to buy U.S.-based Digital Risk LLC, a mortgage management
specialist, for $175 million. 
* MphasiS said in a statement that Digital Risk is expected to
register revenues of $127 million in CY2012. 
* The company has maintained that it would be looking at
acquisitions to utilize the huge cash and cash equivalents of 23
billion rupees on the books.
* Shares up 4.24 percent at 404.60 rupees.

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