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Zensar Technologies Ltd.

BSE: 504067 Sector: IT
NSE: ZENSARTECH ISIN Code: INE520A01027
BSE 00:00 | 24 Apr 2020 Zensar Technologies Ltd
NSE 05:30 | 01 Jan 1970 Zensar Technologies Ltd

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OPEN 91.50
PREVIOUS CLOSE 92.20
VOLUME 4696
52-Week high 271.30
52-Week low 63.70
P/E 8.42
Mkt Cap.(Rs cr) 2,050
Buy Price 90.00
Buy Qty 13.00
Sell Price 91.20
Sell Qty 1.00
OPEN 91.50
CLOSE 92.20
VOLUME 4696
52-Week high 271.30
52-Week low 63.70
P/E 8.42
Mkt Cap.(Rs cr) 2,050
Buy Price 90.00
Buy Qty 13.00
Sell Price 91.20
Sell Qty 1.00

Zensar Technologies Ltd. (ZENSARTECH) - Company History

Zensar Technologies Ltd. was incorporated in March 26 1963. The Company is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital Transformation journeys. It was promoted by its foreign collaborators ICL UK; Fujitsu Japan; and Northern Telecom Canada. The Company is engaged in providing a complete range of IT Services and Solutions. As of March 31 2019 the Company has 23 subsidiaries. Its business operations are spread across countries with offices in 29 locations with presence in the key regions of US Europe Africa Middle East India and APAC.The company manufactures and markets computer hardware and software. Its chief products are digital computer systems including peripherals. The company manufactures the entire range of hardware products ranging from PCs to mainframe computers. It has entered into collaborations with Fujitsu Japan and Genicom US to manufacture line printers. The company tied up with Sun Micro Systems the world leader in Unix workstations and servers.In 1988 ICL entered into an agreement with RPG Enterprises to jointly manage the company. RPG Enterprises provides management support to ICIM. It has changed the name of its subsidiary companies International Computer (india) ICIM International Inc & ICIL Singapore Pte to Zenstar Technologies Zenstar Technologies Inc & Zenstar Technologies (Singapore).In 1999 the company sold SES business to Accel Ltd for a total purchase consideration of Rs 11.34 cr & also has taken over the liabilities under various leasing agreement relating to equipment rented out to customers. In Mar. 2001 the Board of Directors of Fujitsu ICIM and Zensar Technologies have approved the merger of the two companies at a share swap ratio of 1:1 which translates into one share of Zensar Technologies for each share held in Fujitsu ICIM. Hence the name of the company was changed to 'Zensar Technologies Ltd.' As the Chinese economy is gearing up and the business opportunities are growing more and more the company has decided to enter into a JV with New Jade Tech Ltd a subsidiary of Asia Logistics Ltd a Hongkong SE listed company. The joint venture will operate from the Software Technology Park of Zhuhai near Hongkong. The company is also planning to set up a branch in Finland to cater to customers in the Scandinavian region. The process is underway and is expected to be completed shortly.The company has signed a share purchase agreement on December 12 2005 for acquiring entire equity stake of OBT Global a Hyderabad based company. Further Zensar Technologies Inc. the company's wholly owned US subisidiary would be acquiring the entire common stock of OBT Global Inc USA an affiliate of OBT Globalin an all cash transaction. The newly acquired companies are engaged in SAP solutions specifically focused on the Indian industry verticals of textile healthcare and pharmacy.The wholly owned subsidiary company in UK acquired one of Europe's leading experience design agencies Foolproof Limited headquartered in London along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore in November 2016.The wholly owned subsidiary company in USA acquired Keystone Logic Inc. a leading Omnichannel and Digital Supply Chain Company headquartered in Atlanta USA in March 2017. Further the Company entered into a definitive agreement to acquire the business of Keystone Logic Solutions Private Limited on March 30 2017.During FY 2018 the Company incorporated three wholly owned subsidiaries in India viz. Zensar Information Technologies Limited Zensar Software Technologies Limited and Zensar IT Services Limited. Further wholly owned subsidiary company of the Company viz. Zensar Technologies (Singapore) Pte. Ltd. in Singapore incorporated wholly owned subsidiary viz. Zensar Info Technologies (Singapore) Pte. Ltd. in Singapore. The Board of Directors at its meeting held on 14th March 2018 approved transfer of business in certain geographies to Zensar Information Technologies Limited and Zensar Software Technologies Limited by way of slump sale. Further the Board of Directors of wholly owned subsidiary company of the Company viz. Zensar Technologies (Singapore) Pte. Ltd. in Singapore approved transfer of its business to wholly owned subsidiary viz. Zensar Info Technologies (Singapore) Pte. Ltd in Singapore by way of slump sale. The relevant disclosures in this behalf were filed with the Stock Exchanges. On 21st March 2018 the Company had entered into definitive agreement for acquisition of Cynosure Interface Services India Pvt. Ltd. An agreement to acquire Cynosure Inc. USA was entered into by Zensar Technologies Inc. USA a wholly owned subsidiary of the Company on the same day.In July 2018 Zensar Technologies Inc. USA wholly owned subsidiary of the Company entered into definitive agreement for acquisition of 100% shareholding of Indigo Slate Inc USA. In January 2019 Company along with Zensar Information Technologies Limited and Zensar Software Technologies Limited (wholly owned subsidiaries of the Company) respectively entered in to definitive agreement(s) for sale of 100% of the share capital of these wholly owned subsidiaries to Lorhan IT Services Private Limited. (a wholly owned subsidiary of First Tek Inc.)


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