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Redington (India) Ltd has entered into a definitive agreement to acquire 70 per cent stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus). The financial terms of the deal were not disclosed.
Established in 1995, Linkplus is an Oracle distributor in Turkey.
The company has entered into the agreement through its step-down subsidiary Redington Gulf FZE. This proposed acquisition is subject to the regulatory approvals of authorities in Turkey, the company said in a regulatory filing.
Redington intends to acquire the balance 30 per cent over a three-year period.
At 10.59, shares of Redington (India) was up 4.88 per cent at Rs 120.25.
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