Bajaj Finance said that the acquisition of Snapwork Technologies has been proposed with the intention to strengthen the company’s technology roadmap.
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Bajaj Finance Ltd. has announced plans to acquire up to 40 percent stake in Mumbai-based technology services firm Snapwork Technologies Pvt. Ltd. for up to Rs 93 crore.
The acquisition of Snapwork Technologies has been proposed with the intention to strengthen the company’s technology roadmap. The company plans to complete the acquisition by December 31, 2022.
Bajaj Finance also clarified that the acquisition was presently not a related-party transaction.
Incorporated in September 2008, Snapwork Technologies is engaged in the business of developing, consulting, providing, exporting, importing, marketing, dealing in, and implementing software technology and allied products for its clients and conducting research and development for the same.
The Bajaj Finance stock is currently trading at Rs 6,795.10, up 0.71 percent.
(Edited by : Rukmani Krishna)
