CapitalNumbers Infotech Completes Partial Payment for 100% Acquisition of Epitome Cloud Inc.
CapitalNumbers Infotech Limited has provided an update regarding its acquisition of Epitome Cloud Inc., confirming the payment of a portion of the purchase consideration to secure 100% ownership in the company from existing shareholders.The investment follows an earlier agreement where CapitalNumbers had entered into a Stock Purchase Agreement (SPA) with Epitome Cloud Inc. The transaction involves the full acquisition of 100% ownership in Epitomecloud and an indirect acquisition of its subsidiary in India, namely Epitomecloud Technology Private Limited.
According to the update, CapitalNumbers Infotech Ltd has paid USD 24,51,288.49 (equivalent to INR 23,40,00,000) towards the purchase of the 100% shareholding from the Sellers in accordance with the terms stipulated in the SPA.
The original acquisition was valued at approximately INR 40 crore. The company confirmed that the remaining portion of the purchase consideration will be paid to the Sellers in line with the terms set out in the Stock Purchase Agreement.
Stock Price Movement
As of 12:14, Capitalnumbers Infotech Ltd shares are edging higher at ₹91.44, showing a gain of 3.29%. The stock has navigated an intraday movement spanning from a low of ₹89.00 to a high of ₹91.45.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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