The decision by Majesco (India) to sell its subsidiary Majesco (US) to private equity player Thoma Bravo could lead to a cash bonanza for Indian shareholders. Given that the acquirer is paying $13.1 per share (Rs 970), the deal values the Nasdaq-listed Majesco (US) at $594 million (Rs 4,430 crore). The offer is at a 72 per cent premium to the closing price at Nasdaq.
Majesco (US) offers software services and solutions to insurance companies and has been valued at 4 times its FY20 sales. Majesco (India) will get $421 million or Rs 3,154 crore for its 74 per cent stake in US entity. Given ...
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