Ace Software Exports Acquires 100% of QeApps for ₹12 Cr
Ace Software Exports Limited has successfully acquired 100% of QeApps Private Limited for a total consideration of ₹12,00,00,000 (₹12 Crore). This acquisition makes QeApps a wholly owned subsidiary. Additionally, the company invested ₹1,00,00,000 (₹1 Crore) in QeLearn Private Limited and ₹7,00,00,000 (₹7 Crore) in QeMFG Private Limited. These transactions were funded by the net proceeds of a Rights Issue. QeApps is a technology and software solutions provider specializing in Shopify applications, with over 10,000 active installations across 15 countries. The acquisition is aimed at expanding Ace Software Exports' business operations and capabilities. The transaction involved related parties but was conducted at arm's length.
Key Highlights
- Ace Software Exports acquired 100% of QeApps Private Limited for ₹12 Crore.
- QeApps becomes a wholly owned subsidiary, specializing in Shopify applications.
- Additional investments of ₹1 Crore and ₹7 Crore made in existing subsidiaries.
- Acquisition and investments funded by Rights Issue proceeds.
- Transaction involved related parties but was conducted at arm's length.
Price Impact
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