MUMBAI: Software training company SQL Star International today said it will acquire IT education firm Mindlogicx in an all-share deal.
“Post merger of SQL Star with Mindlogicx, there will be capital restructuring where we have agreed on equity swap ratio of four Mindlogicx share for five SQL Star share,” SQL Star Managing Director Sunil Gupta said.
The company in a BSE filing said its board has approved amalgamation of Mindlogicx with it.
Gupta said post this merger, SQL will absorb over 400 existing employees of Mindlogicx.
“The joint workforce of SQL will be 800 after restructuring,” he said.
At present, SQL Star offers its services through eight training centers located at Hyderabad, Kolkata, Chennai, Bangalore, Mumbai, Delhi and Pune and has a clientele which includes Oracle, TCS, Infosys, Wipro, Accenture, Metro Rail, Schneider, among others.
Shares of SQL Star closed higher by 3.64 per cent at Rs 5.70 on the BSE.