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Mphasis share rises 4% on acquisition of UK-based Datalytyx

Mphasis stock opened with a gain of 3.8% at Rs 1349.85, also its intra day high

twitter-logoBusinessToday.In | November 20, 2020 | Updated 13:17 IST
Mphasis share rises 4% on acquisition of UK-based Datalytyx
Share of IT firm Mphasis opened with a gain of 3.8% at Rs 1349.85, also its intra day high.

Share of IT firm Mphasis gained over 3% today after its subsidiary Mphasis Consulting  acquired UK-based Datalytyx for up to 13.3 million pound (about  Rs 130.4 crore). The stock has gained after 3 days of consecutive fall.

The stock opened with a gain of 3.8% at Rs 1349.85, also its intra day high.

The share has gained 44.21% in one year and risen 42.63% since the beginning of this year. Total 5990 shares changed hands amounting to turnover of Rs 79.36 crore on BSE. Market cap of the firm rose to Rs 24,557 crore.

The acquisition is expected to provide access to strengthen Mphasis next-generation Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services, a regulatory filing said.

Headquartered in London, United Kingdom, Datalytyx provides next-gen data engineering, data operations and master data management solutions on Snowflake and Talend environments to clients globally.

Since its inception, Datalytyx has been supporting modern data projects by providing a managed data platform for analytics and machine learning, using best-in-class data tools.

"Every enterprise needs the ability to turn raw data into actionable information at scale, the recent worldwide crisis has only accelerated this need. Data and analytics combined with artificial intelligence, will continue to play a dominant role to predict, prepare and respond to changing needs of the business," said Nitin Rakesh, CEO and Executive Director, Mphasis.

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