ACE Software Exports Acquires Remaining 60% Stake in AIPL for ₹129 Million

Ace Software Exports Limited has bought the remaining 60% equity holding in Ace Infoway Private Limited (AIPL) for ₹129 million, turning AIPL into a wholly owned subsidiary of the company. The acquisition is part of Ace Software's strategy to increase its presence in product engineering, digital transformation, and next-generation IT services.

 

AIPL is experienced in cutting-edge solutions like machine learning, data analytics, web and mobile application development, and cloud solutions, serving mainly United States and Australian clients. The acquisition is likely to make Ace Software a market leader in the global IT services industry and increase its ability to provide innovative solutions to clients.

 

The acquisition was undertaken under Regulation 30 of SEBI (LODR) Regulations following members' approval in the Extraordinary General Meeting dated July 5, 2024. The acquisition reflects Ace Software's focus on expansion through acquisition and strategic partnership and further entrenches it in the competitive IT industry.

 

Ace Software Exports Ltd., a firm that has been successful in document management and electronic publishing, is expanding its portfolio with such acquisitions with a view to propelling long-term profitability and growth.

 

Source: Market Screener