Earlier, on October 1, Majesco
had informed the stock exchanges that a meeting of the board of directors of the company is scheduled to be held on Wednesday, October 7, 2020, to approve unaudited financial results for the quarter and half year ended September 30, 2020.
In August, 2020, the company’s US arm signed an amended agreement to sell Majesco US to private equity firm Thoma Bravo. Majesco India holds a 74.07 per cent stake in the US entity, Majesco US.
Majesco US' board of directors unanimously approved the merger and recommended that shareholders approve the same. Majesco India's board also approved the revised deal on August 8. The transaction is expected to be completed by the end of 2020. The company had said it intends to distribute entire proceeds via dividend or buyback as expeditiously as possible.
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