India TV

Smallcap IT stock in focus as company approves acquisition of US-Based AI firm via share swap

Shares of smallcap IT company Blue Cloud Softech Solutions Ltd are in focus as the company has informed exchanges that the board of directors of the firm have given in-principle approval to evaluate and negotiate the proposed acquisition of up to 100 per cent of the equity interest in CareTech AI Inc., a US-based AI-first healthcare technology and services firm. As part of this transaction, it will include CareTech AIs two wholly owned subsidiaries -CareCareer Tech LLC and Envision NJ LLC. The acquisition will be done through a share swap, in which the company will make a preferential allotment of its equity shares.