Shares of outsourcing firm eClerx Services today surged 7 % after the company announced its plans to acquire Italian media content management company Clx Europe SPA for 25 million euros.
The stock moved up by 6.93 % to Rs 1,700 on the BSE.
On the NSE, it jumped 7 % to Rs 1,697.
The company will be doing the acquisition through its British subsidiary and has signed an agreement to acquire the Italian company for the consideration, it had said in a note yesterday.
“The combined companies’ capabilities are highly complementary and now form a continuous value chain of creative asset development, digital multi-channel production, data management and analytics,” it had said.
Clx Europe creates, manages and delivers creative assets globally to the multi-channel market for luxury brands and major retailers.
The acquisition will be funded by internal accruals and post-acquisition, CLX will operate as a subsidiary of Eclerx, it had said.