XTGlobal Infotech Limited agreed to acquire a remaining 66.06% in Xenosoft Technologies Private Limited from a group of shareholders for approximately INR 300 million.

XTGlobal Infotech Limited (BSE:531225) agreed to acquire a remaining 66.1% in Xenosoft Technologies (India) Private Limited from a group of shareholders for approximately INR 300 million on January 18, 2020. Under the terms of the transaction, XTGlobal Infotech Limited agreed to acquire Xenosoft Technologies (India) Private Limited by way of equity shares at a swap ratio of 1:5.41, (i.e for every one share of Xenosoft, 5.41786 shares of XTGlobal lnfotech Limited are issued), XTGlobal Infotech Limited issued 22.13 million shares for this transaction. Post completion, Xenosoft Technologies (India) Private Limited will operate as a subsidiary of XTGlobal Infotech Limited. The transaction require approval from XTGlobal Infotech Limited's shareholders. Board of Directors of XTGlobal Infotech Limited approved the transaction on January 18, 2020.