www.
aztecsoft.
com Page 1 of 2
MindTree to Acquire Majority Equity Interest in Aztecsoft
Combination will create the market leader in
Outsourced Product Development (OPD) and Testing
Bangalore, India, May 2, 2008: MindTree Ltd.
, a global IT and R&D...
More
www.
aztecsoft.
com Page 1 of 2
MindTree to Acquire Majority Equity Interest in Aztecsoft
Combination will create the market leader in
Outsourced Product Development (OPD) and Testing
Bangalore, India, May 2, 2008: MindTree Ltd.
, a global IT and R&D Services Company, today
announced that it has signed a definitive agreement with the largest shareholder of Aztecsoft Ltd.
to
acquire 32.
57% at Rs 80 per share, which values the company at an equity valuation of USD 90 Million.
MindTree will also announce an open offer to Aztecsoft’s public shareholders to purchase up to an
additional 20% equity ownership interest.
These transactions are subject to customary regulatory
filings, clearances and approvals.
After the completion of these transactions, MindTree will initiate the
process of merging Aztecsoft into itself.
Aztecsoft is a leader in the Outsourced Product Development (OPD) and Testing markets as a 2,100+
people strong software engineering services company.
It provides full-lif
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