GSS Infotech surges on acquisition of US based company

GSS Infotech Inc, a wholly-owned subsidiary of GSS Infotech Limited, signed a share purchase agreement for acquiring 100 per cent shares of Nexii Labs Inc, USA. The latter company will become a wholly-owned step-down subsidiary of GSS Infotech Inc.

Nexii Labs has expertise in the field of automation which would help GSS to develop its existing Cloud and Infrastructure Management Practice. Also, this would lead GSS to add more customers to its base. Nexii already has Fortune 500 companies as its customers generating revenue of US$ 1.8 million in FY18.

GSS Infotech is a global IT service provider that delivers services and customized solutions in the areas of Infrastructure Management Services, IT Managed services and Cloud. It has worked with Fortune 1,000 clients having presence in industries like Healthcare, Banking and Financial Services since last 20 years.

Nexii Labs delivers IT Infrastructure, cloud and storage solutions with the effective use of automation techniques and tools.

The stock of GSS Infotech had closed at Rs. 95.15 per share on Friday. On Monday, it jumped by 13.6 per cent and touched Rs. 108.15 per share. It made intra-day high of Rs. 108.15 in the morning trading session. GSS Infotech is a small-cap company having market capitalization of Rs. 180 crores.