Newgen Software Technologies stock rose 12.56% to the high of Rs 974.75 against the previous close of Rs 865.95 on BSE. Market cap of the firm rose to Rs 13,611 crore.
PureSoftware Technologies, with a paid-up capital of Rs 3.23 crores and a turnover of Rs 351 crores for fiscal 2024, will be acquired through an upfront cash consideration of Rs 635 crores.
The acquisition, executed through a share purchase agreement, will see Happiest Minds obtaining 100 percent equity interest in PureSoftware, thereby making it a wholly-owned subsidiary of the company
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