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TeamLease To Acquire Staffing Firm ASAP Info Systems; Stock Up 4 per cent

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Shares of Teamlease rose on Monday after the company announced to acquire staffing company ASAP Info Systems Private Limited.

 

TeamLease To Acquire Staffing Firm; Stock Up 4 per cent

TeamLease to acquire ASAP Info Systems for an Enterprise Value of Rs. 67 crores through its wholly owned subsidiary, TeamLease Staffing Services Private Limited, the company said in the press release.

The transaction, which will be immediately accretive to TeamLease's earnings per share, will be financed with existing financial resources and is expected to close before the end of August 2016.

The transaction remains subject to customary closing conditions and regulatory approvals.

Shares of the company were seen trading at Rs 1108, higher by 2.98 per cent on BSE at 11.49 am IST. IT touched an intra-day high of Rs 1134 during the trade.

Read more about: teamlease acquisition
Story first published: Monday, July 4, 2016, 11:54 [IST]
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