Mphasis Shares Hit Record High On Acquiring US-Based Blink UX
NDTV
Shares of the Bengaluru-based information technology company - Mphasis - rose as much as 3.2 per cent to hit record high of Rs 3,301.
Shares of the Bengaluru-based information technology company - Mphasis - rose as much as 3.2 per cent to hit record high of Rs 3,301 on the BSE after the company informed exchanges that it acquired US-based Blink UX, a user experience research, strategy, and design firm. Mphasis acquired 100 per cent stake in Blink UX for a total consideration of $94 million.
Blink's acquisition is expected to provide access marquee logos, strengthen experience business and is leadership and revenue growth accretive, Mphasis said in an exchange filing.
Mphasis cited access to Blink's marquee client base, strong tenured leadership and expansion of total addressable market (TAM) as some of the factors behind its acquisition of Blink.
Blink has a marquee customer base wherein it counts Facebook, Amazon, T-Mobile, Google, Dell, NASA, ebay and Edelman Financial among others as its clients.
