Mumbai: IT firm Zylog Systems today said it has acquired Canada-based consulting and engineering company Brainhunter for 35 million Canadian dollars (around Rs 150 crore).
"This acquisition is through Creditors Arrangement Act bidding process where Zylog emerged as the successful bidder," the company said in a statement to the Bombay Stock Exchange.
Brainhunter is into consulting and engineering services in Canada
with major presence in government, telecom, BFSI, and oil & pipeline verticals.
Zylog's board, during a meeting held on January 29, has approved the acquisition of Canadian firm.
Chennai-based Zylog is a global technology integrator and business solution provider with over 2,000 employees.
The company "has been looking to enter Canada
for its operations and this acquisition would provide us with the appropriate platform," Zylog Chairman and CEO Sudarshan said.
Shares of Zylog were trading higher by 1.79 percent at Rs 335 on BSE in afternoon trade.
First Published: Tuesday, February 2, 2010, 12:53