MindTree picks 79.9% stake in Aztecsoft
Bangalore-based Software firm MindTree has informed that it has completed the open offer to acquire equity stake in Aztecsoft Ltd. The firm now holds 79.9 per cent equity stake in Aztecsoft.
MindTree earlier this year acquired 32.57 per cent stake in the company for around Rs 117 crore. Aztecsoft has over 2,200 employees and caters to the North American, European, Indian and Australian markets. It has four delivery centers in India.
For the fourth quarter ended March 31, 2008, Aztecsoft has posted revenues of Rs 68.71 crores and a net profit of Rs 3.15 crores on consolidated basis.
Recently, MindTree has raised about Rs 100-crore loans from HSBC and Citibank on a long-term basis to meet its operational expenses and capital expenditure.
