MPS is a newsmaker today morning; the stock opened 6% higher at Rs.1605, which was also its intraday high and is now trading at Rs.1575 levels. Its 52-week high is at Rs.1654.
The stock price rose after the company announced that its wholly subsidiary, MPS Interactive Systems agreed to acquire 65% of the issued and paid-up capital of New Zealand based, Liberate Group.
The entities that were acquired included Liberate Learning, Liberate eLearning, App-eLearn and Liberate Learning (New Zealand).
The remaining 35% shareholding will be acquired by MPSi in subsequent tranches.