Kaashyap Technologies scouting for acquisition

IRIS
November 19, 2007

A meeting of the board of directors of Kaashyap Technologies will be held on Nov. 26, 2007, to consider the proposal of acquisition/merger of healthcare technology products/companies. Further it will consider and approve the Employees Stock Option Scheme.

In September 2007, the company announced that it plans to acquire two international software development companies based in USA and one software product company for the consideration of not more than 15 Million USD.

Shares of the company gained Rs. 0.17, or 4.8%, to trade at Rs. 3.71. The total volume of shares traded was 657,700 at the BSE. (1:07 p.m., Monday)