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VMPL
Mumbai (Maharashtra) [India], April 3: Paramatrix Technologies Limited (NSE: PARAMATRIX), a leading technology solutions provider, is pleased to announced that Paramatrix Technologies Limited, Hong Kong, a wholly-owned subsidiary of Paramatrix Technologies Limited (India) has approved the acquisition of a 51% stake in Paramatrix Technologies KK, a company incorporated in Japan. Under the agreement, Paramatrix Technologies Limited, Hong Kong, will acquire 510 equity shares at a price of Y=10,000 (approx. Rs5,723) per share from John Zendano, the sole shareholder, for a total consideration of Y=5.1 million (approx. Rs29 Lakhs). This acquisition is part of the company's plans to expand its international operations and establish a presence in new markets. Paramatrix Technologies KK was incorporated in September 2024 and operates in the Information Technology sector. While the company has yet to commence business operations, this acquisition is expected to support future business activities and collaborations in Japan. The transaction has received approval from the Ministry of Economy, Trade and Industry, Japan. The payment for the acquisition is expected to be completed by 5th April 2025. This acquisition reflects Paramatrix Technologies Limited's commitment to expanding its geographical presence and exploring new business opportunities in international markets. Commenting on the development Mukesh Thumar, Founder, MD & CE0 of Paramatrix Technologies Limited said: "This acquisition marks an important step in our efforts to expand internationally. Japan is a well-established technology market with strong growth potential, and this move enables us to establish a presence in the region. We aim to leverage our expertise to build long-term value and remain focused on steady growth while strengthening our global operations in a structured manner." (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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