IT solutions provider Aftek Infosys Ltd said it has acquired 49 per cent stake in Munich-based Arexera Information Technologies Gmbh for Euro 8.86 million.
Aftek Infosys has also gained the right to acquire the entire 100 per cent equity in Arexera based on certain milestones over next 3-4 years, the company informed the Bombay Stock Exchange.
M M Warburg acted as investment banker while independent valuation was done by PKF, it said.
Fortress Financial Services Ltd have acted as Indian advisors, it added.
