Share prices of a global data analytics company on Thursday moved up by 6.91 percent on BSE to Rs. 493.7 from its previous close of Rs. 461.75, after the company announced an acquisition.
With a market cap of Rs. 9,742.3 crore, at 01:44 p.m. the shares of Latent View Analytics Limited were trading in the green at Rs. 473.6, up by nearly 2.56 percent.
The company has delivered nearly 14.6 percent returns in the last six months, whereas it has given around 48.9 percent in the last one year. So far, it has given positive returns of around 3.1 percent in 2024.
According to recent regulatory filings with the stock exchanges, LatentView Analytics Limited’s Board has approved the acquisition of Decision Point Private Limited.
The acquisition of 70% of outstanding equity capital in Decision Point is for a total amount of Rs. 326.06 crore, while the remaining 30% equity will be acquired over the following 2 years with a pay-out based on agreed valuation principles.
Established in 2012, Decision Point is a leader in AI-led Business Transformation and Revenue Growth Management (RGM) solutions.
This acquisition will support LatentView’s existing expertise in data engineering, data science, data visualisation, as well as consulting and advisory services for analytics and GenAI readiness.
Further, the company will invest to accelerate the expansion of Decision Point solutions in the focus markets of North America and Europe.
In terms of financials, the company’s revenue from operations grew by 6.4% from Rs. 156 crores in Q2 FY23-24 to Rs. 166 crore in Q3 FY23-24, accompanied by an increase in the net profit of 38.2% to Rs. 47 crore in Q3 FY23-24 from Rs. 34 crore in Q2 FY23-24.
As of December 2023, FIIs hold 2.54 percent of the shares, whereas DIIs hold 2.45 percent of the shares in the company, aggregating to 4.99 percent of the institutional holdings.
Founded in 2006, LatentView Analytics Limited is a global data analytics company that enables companies to predict new revenue streams, anticipate product trends and popularity, improve customer retention rates and optimise investment decisions.
Written by Shivani Singh
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