Processing .....please wait.. 
The article has been forwarded.... 
Allied Digital acquisition sweeps in $40 Mn business
By siliconindia
|
Monday, 14 July 2008, 17:52 IST
Mumbai: Allied Digital, a Infrastructure management and Technical support company, swept a seven percent increase in its shares as it acquires 80.5 percent of infrastructure management business of U.S. based Enpointe Technologies. The 30million stakes is a subsidiary of Nasdaq-listed Enpointe Technologies. This has become a profitable acquisition as it expects to grip in business of $40 million in the Indian market.
Enpointe Technologies, a leading national provider of business-to-business information technology products, services and solutions. The entire deal will be funded by a combination of 40 percent cash, which amounts to $10 billion and the remaining will be through $14 million equity, with a four percent dilution in equity of Allied Digital.
