Cyient jumps Nearly 6% On Acquisition Of Certon Software

Shares in Cyient Technologies jumped on acquisition of Certon Software

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Shares of Cyient surged nearly 6 per cent on the Bombay Stock Exchange after the company said that Cyient Inc., USA, a wholly owned subsidiary of the company, has signed a definitive agreement to acquire 100 per cent equity in Certon Software Inc., Melbourne, Florida, USA, in an all cash transaction.

Cyient jumps Nearly 6% On Acquisition Of Certon Software
This transaction will further strengthen the automation in its key vertical Aerospace and Defense in line with strategy for growth, it said in a filing to exchange.

Boosted by the development, shares of company gained as much as 5.71 per cent to hit intra-day high of Rs 492.60 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of firm rose 3.09 per cent to Rs 481.00 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,247.40, up 130.06 points, or 0.48 per cent, at 11:25 hours.

Read more about: cyient
Story first published: Tuesday, January 24, 2017, 13:40 [IST]
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