Yash Birla Group gulps Melstar
Facebook Twitter google+ RSS Feed

Yash Birla Group gulps Melstar

By SiliconIndia   |   Tuesday, 26 May 2009, 09:25 Hrs   |    3 Comments
Printer Print Email Email
Yash Birla Group gulps Melstar
Bangalore: The Yash Birla group has entered into IT industry with the acquisition of Melstar Information Technologies, an application development software services company. Melstar is a complete service provider of professional consulting and project services and solutions.
It is considered as one of the preferred vendors for software development services; the company also has a strong focus on the Banking, Financial Services, and Insurance sector.Yash Birla, Chairman, Yash Birla Group said, "The Melstar acquisition fits into the Group`s ongoing thrust on growth and exploring new age sectors like Education, Healthcare and IT." We see a strategic fit between the Yash Birla Group and Melstar vis-a-vis the directions that the Group has set for itself`, he added.
After the acquisition, shares of Melstar Information Technologies gained Rs 0.54, or 4.97 percent, to settle at Rs 11.41. The total volume of shares traded was 19,701 at the BSE.

Write your comment now
Submit Reset
Reader's comments(3)
1: Hello Everyone.

Its nice for a change to hear Yash Birla's name for Corporate news rather than for Page 3 News.

Keep Up Mr. Yash Birla.

Posted by:Ketan Kothari - 27 May, 2009
2: Is MelStar a foreign company or an Indian Origin MNC?
Posted by:Anupam Rout - 27 May, 2009
3: This is good news for the group.
Posted by:giri - 26 May, 2009