Datamatics Subsidiary To Acquire Chennai-Based TNQ Tech For ₹336 crore

Datamatics Global Services Ltd, a leading IT company, announced a significant acquisition on Monday, December 9, 2024. Its wholly-owned subsidiary, Lumina Datamatics Ltd, will acquire a 100% stake in TNQ Tech Private Ltd, a Chennai-based digital publishing technology and services provider. The move is poised to strengthen Datamatics’ position in the digital publishing sector and expand its service capabilities.

Details of the Acquisition

The acquisition will be carried out in two tranches as per the terms of the definitive agreements signed on December 9, 2024. In the first tranche, valued at ₹336 crore, Lumina Datamatics will secure an 80% stake in TNQ Tech by December 31, 2024. The remaining 20% will be acquired by July 31, 2026, subject to specific conditions related to EBITDA and other financial metrics outlined in the agreements. The acquisition is expected to be a strategic move to bolster Datamatics’ growth prospects and enhance its portfolio in the digital publishing and technology services sector.

Strategic Importance of the Acquisition

TNQ Tech is known for its expertise in digital publishing technology and services, offering innovative and efficient solutions. The acquisition aligns with Datamatics’ strategy of strengthening its digital capabilities and expanding its service offerings. With this move, Lumina Datamatics Ltd aims to integrate TNQ Tech’s high-quality solutions into its own portfolio.

Datamatics Share Performance

As of December 10, 1:58 PM, shares of Datamatics are trading at ₹642.10 per share with a surge of 1% from its previous day’s closing price. Over the last month, the stock has seen a surge of 10.89%. The stock has a 52-week high and 52-week low of ₹450.00 per share and ₹786.00 per share respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.