Shares of eClerx Services surged over 7 per cent to an intraday high of Rs 1,697 on Wednesday after the outsourcing service provider said it will acquire a company in Italy which will be earnings accretive.
eClerx Services in a release to exchanges said that it will acquire 100 per cent stake in CLX Europe, a content management firm, for 25 million euros in an all-cash deal. eClerx Services said the acquisition will be funded by internal accruals.
eClerxs believes that the combined companies' capabilities are highly complementary.
Shares in eClerx Services closed 1.16 per cent higher at Rs 1,604 apiece, in-line with the gains in Nifty, which closed 1.12 per cent higher.
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