Datamatics Global Services has acquired stake in Cignex Global Holding Corporation, which has a top-line of USD 22 million....
Datamatics Global Services has acquired stake in Cignex Global Holding Corporation, which has a top-line of USD 22 million. In an interview to CNBC-TV18, Rahul Kanodia, vice chairman and CEO of Datamatics says that the company’s new purchase is a complete cash buy of about USD 17 million, to be completed over a period of two years.
Kanodia says Cignex is a profit making company with 10% EBITDA and also has corporate blue-chip companies as their clients. "With this deal we expect this year to be up at about somewhere in the range of Rs 420 to Rs 450 crore and the bottom-line should be at 10%, approximately," he adds.
Datamatics Global Services has acquired stake in Cignex Global Holding Corporation, which has a top-line of USD 22 million. In an interview to CNBC-TV18, Rahul Kanodia, vice chairman and CEO of Datamatics says that the company’s new purchase is a complete cash buy of about USD 17 million, to be completed over a period of two years.
Kanodia says Cignex is a profit making company with 10% EBITDA and also has corporate blue-chip companies as their clients. "With this deal we expect this year to be up at about somewhere in the range of Rs 420 to Rs 450 crore and the bottom-line should be at 10%, approximately," he adds.
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