IT Stock Announces Acquisition Plan After 250% Rally In 1 Year: Do You Own?

With a market valuation of Rs 1,231 Cr, One Point One Solutions Ltd is a small-cap company in the IT industry. One Point One Solutions is one of Dalal Street's recent multibagger stocks, having returned a staggering 250% in the last 1 year. However, given the company's declared acquisition goals, the stock is probably going to be in the spotlight this week.

"In continuation of our letter dated 22nd February, 2024 whereby One Point One Solutions Limited ("the Company") had announced the plans to acquire the 100% stake of ITCube Solutions Private Limited ("ITCUBE"). In this regard, we would like to inform that 1st tranche of acquisition of 76% stake of ITCUBE has been completed today i.e. March 1, 2024 and consequently, ITCUBE has become a subsidiary of the Company," said One Point One Solutions in a regulatory filing.

One Point One Solutions Limited acquired a majority stake in ITCube Solutions for Rs. 84 crore on February 22nd, strengthening its global presence and market leadership. Through the acquisition, the company gains international recognition and broadens its market reach by adding more IT services and verticals to its current offering. The acquisition of a majority stake in ITCube Solutions Pvt Ltd., an IT + BPM/KPO services firm with headquarters in Pune and Cincinnati, Ohio, was announced by One Point One Solutions Limited, a pioneer in next-generation BPM services. One Point One Solutions will be able to grow its present verticals, including healthcare and IT services, thanks to this deal.

With dynamic employees of over 5,000 dedicated individuals, One Point One Solutions is at the forefront of next-generation business process management (BPM), promoting possibilities for individuals, organisations, and communities. One Point One provides smooth digital transitions across a range of industries, including travel and hospitality, banking and finance, consumer durables & FMCG, insurance, and e-commerce & retail. One Point One offers a wide range of services, including chat and voice bots, email management, lead generation, content management, voice analytics, accounts payable and receivable management, predictive analytics powered by artificial intelligence, and service centers with over 5,000 seats per shift strategically located in Navi Mumbai, Gurgaon, Chennai, Bangalore, and Indore.