Allied Digital buys 80.5 pct in Enpointe unit for $30 mln
MUMBAI, July 10 (Reuters) - IT services firm Allied Digital Services Ltd (ADIS.BO: Quote, Profile, Research) has acquired 80.5 percent stake in infrastructure management business of U.S.-based Enpointe Technologies Inc (ENPT.O: Quote, Profile, Research) for $30 million, a top official said.
About 40 percent of acquisition cost will be funded by cash and the remaining will be through an equity swap, resulting in a 4 percent dilution in equity of Allied Digital, Chairman and Managing Director Nitin Shah told Reuters on Thursday.
About $40 million worth of business is expected to accrue to the Indian firm from the acquisition in this financial year, he added. (Reporting by Janaki Krishnan; Edited by Ramya Venugopal)
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