Blue Star Infotech to acquire remaining 51% stake in associate BI & analytics firm
Blue Star Infotech Ltd, a Mumbai-based technological consulting services provider, has received its board approval to acquire remaining 51.03 per cent stake in Blue Star Infotech Business Intelligence and Analytics Pvt Ltd, for an undisclosed amount, according to a stock market disclosure.
Post acquisition, Blue Star Infotech Business Intelligence will become a wholly-owned subsidiary of Blue Star Infotech.
In 2013, Blue Star Infotech had acquired 48.97 per cent stake in ActiveCubes Solutions India Pvt Ltd post which it got renamed as Blue Star Infotech Business Intelligence and Analytics.
Founded in 2007, Bangalore-based Blue Star Infotech Business Intelligence provides analytics and business intelligence solutions. It transforms data into intelligence and caters its services to consumer packaged goods, retail, telecom and health care sectors, besides financial institutions.
Part of Blue Star Group that is better known for the air-conditioning business, Blue Star Infotech provides services like mobility services, cloud computing, analytics and business intelligence, product engineering, testing, package implementation and applications.
In 2012, Blue Star Infotech had acquired Singapore-based Infostack Solutions Pte Ltd for an undisclosed amount.
Blue Star Infotech's scrip last traded at Rs 270.4 a share, up 6.88 per cent on BSE in a strong Mumbai market on Wednesday.