Prism Informatics, a software development and IT consulting firm, said Monday it would buy 51 percent stake in a unit of Saudi Arabia-based Al Suwaidi Holding Company.
Prism Informatics has signed a memorandum of understanding with Al Suwaidi Holding Company for purchase of 51 percent stake in Information Management Technologies (IMT), Prism Informatics said in a statement to the Bombay Stock Exchange.
IMT, a subsidiary of Al Suwaidi Holding, provides IT solution services in the Middle East.
Source: India Talkies