MPS shares climb 5% on picking up majority stake in Liberate Group for AUD 9.32 mn

The share touched a 52-week high of Rs 1,654.05 and a 52-week low of Rs 620.00 on 21 August, 2023 and 03 October, 2022, respectively.

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Shares of MPS traded up 5 percent at Rs 1,596.15 on August 30 after the company decided to acquire a 65 percent stake in Liberate Group for consideration of AUD 9.32 million.

MPS Interactive Systems Limited, a wholly owned subsidiary of MPS, has agreed to acquire 65 percent of the issued and a paid-up capital of Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand).

The remaining 35 percent shareholding of each of the entities of the Liberate Group will be acquired by MPSi in subsequent tranches, the company said.

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The company has posted 46.8 percent jump in its June quarter net profit at Rs 30.30 crore.

Liberate group provides digital, blended learning, and training solutions to its long-term clients and steadily expanding customer base. Liberate helps its customers in creating bleeding-edge blended and digital learning solutions, providing consulting services, and assisting customers in the creation and deployment of eLearning solutions.

The share touched a 52-week high of Rs 1,654.05 and a 52-week low of Rs 620 on August 21, 2023 and October 3, 2022, respectively. The stock is trading 3.5 percent below its 52-week high and 157.44 percent above its 52-week low.

The share price surged 122 percent in the last one-year.