Zensar acquires Foolproof
Q. Zensar Technologies has signed a definitive agreement to acquire which UK based company?- Published on 03 Nov 16a. Proof-fool
b. Soundproof
c. Foolproof
d. None of the above
ANSWER: Foolproof
Zensar Technologies, an
RPG group company on 2nd Nov signed a definitive agreement to acquire UK based Foolproof and three wholly owned subsidiaries in the UK and one subsidiary in Singapore.
- The amount for the acquisition has not been publicly disclosed.
- As per terms of the agreement, Foolproof will become the wholly owned subsidiary of Zensar Technologies (UK) Ltd, the company said in a regulatory filing to the Bombay Stock Exchange.
- On completion of the deal, Foolproof will operate under its own brand name and will continue to be managed by its founders Peter Ballard and Tom Wood.
- The firm also said the deal will be financed by internal accruals and will be earning per share (EPS) positive for the company.
- With the purchase, Zensar expects about 30 per cent of its revenue will be through Digital services.
- Founded in 2002, Foolproof is headquartered in London with offices in Norwich and Singapore.
