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Zensar acquires US-based digital agency

Tanay Loya
/ Categories: Trending, Markets
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Zensar Technologies on Friday announced that the company has entered an agreement to acquire US West Coast-based Indigo Slate.

Zensar Technologies Inc. will acquire the entire share capital of Indigo Slate. The acquisition will be funded by internal accruals and external debt.

Indigo Slate is a digital marketing focused customer experience agency with revenues of about US$20 million in fiscal 2018. Digital revenues have been growing at a 30 per cent CAGR for Zensar and contributed over 38 per cent of Zensar’s FY18 revenues. The addition of Indigo Slate is expected to strengthen Zensar’s capabilities in this segment.

Zensar is an RPG Group company engaged in the business of digital solutions and technology services. At 12:20 hours on Friday, Zensar Technologies was trading at Rs. 1,247.10 per share, up Rs 7.55 or 0.61 per cent on NSE. The stock opened at Rs. 1,253.60 from a previous close of Rs. 1,239.55 per share on NSE. The stock attracted a traded volume of 20,500 shares on NSE.

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