Business

eClerx Services surges on acquisition plan of CLX Europe

eClerx Services has surged 5% to Rs 1,670 on the BSE in early morning trade after the company announced that its board agreed to buy CLX Europe SpA, an Italian media content management company, for Euro 25 million (approx. Rs 167 crore).

“The company has signed an agreement to acquire CLX Europe S.P.A, a closely held Italy-based media content management company for a total consideration of up to Euro 25 million (around Rs 167.5 crore),” eClerx Services, a business and knowledge process outsourcing services provider, said in a BSE filing.

The acquisition will be made through its UK-based subsidiary and the all-cash transaction would be funded through internal accruals, it added.

CLX is a digital services firm active in creative asset creation, management and delivery to support the marketing, communication and branding of companies and their products.

The stock opened at Rs 1,610 and touched high of Rs 1,700 on the BSE. A combined 61,055 shares changed hands on the counter till 0941 hours on the BSE and NSE.