Pentasoft to acquire Num TV's overseas subsidiaries

By Our Corporate Reporter

CHENNAI, JUNE 2. Pentasoft Technologies, at its board meeting held on Friday, has approved the allotment of $19 million worth of shares on stock and cash basis to Num TV, a 100 per cent subsidiary of PentaMedia Graphis for acquisition of its overseas subsidiaries in terms of business transfer agreement entered between Pentasoft and PentaMedia last year, according to a company release.

The board has also constituted an allotment committee consisting of three directors - Mr. D. Kannan, Mr. T. V. Krishnamurthy and Mr. S. Ravichandran to take care of all the formalities relating to the allotment of shares, which will be completed within a month's time, the release added.

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Section  : Business
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