Adroit Infotech Ltd’s shares were up by 2.45 per cent after the company announced its entry into a non-binding share purchase agreement to acquire a 100 per cent stake in a US-based ERP solutions company. This move aligns with Adroit Infotech’s strategy for inorganic growth, aiming to enhance its offerings and expand its presence in North America.
Upon completion of the acquisition, the company said it is expected to increase its presence in North America and broaden its portfolio to include Oracle ERP solutions alongside SAP solutions. The acquisition is also projected to result in an increase in consolidated revenues, estimated to grow by 3-4 multiples.
Strategic move
Sudhakiran Reddy, MD, Adroit Infotech, said, “Our strategic objective is to build a sustainable organisation that remains relevant to the agenda of our clients, while generating profitable growth for our investors. We will deploy our capital in making selective business acquisitions that augment our expertise, complement our presence in certain market segments and accelerate the execution of our strategies.”
The shares were up by 2.45 per cent to ₹20.49 at 2 pm on the BSE.