COMPUTER ENGINEERING & CONSULTING rebounds after announcing full acquisition of SI firm Cipher and capital tie-up with AI Librarium
COMPUTER ENGINEERING & CONSULTING LTD. <9692> rebounded for the first time in three sessions. After market close on Sep 30, COMPUTER ENGINEERING & CONSULTING announced it will make Cipher, a system integration (SI) firm serving the financial, manufacturing, and public sectors, a wholly owned unit on Nov 2. The announcement drew buying. The acquisition price was not disclosed. The move aims to strengthen and expand its systems and infrastructure construction business.
Simultaneously, COMPUTER ENGINEERING & CONSULTING disclosed it reached a capital and business partnership agreement with AI Librarium, an AI consulting firm. COMPUTER ENGINEERING & CONSULTING subscribed to a third-party allotment of new shares in AI Librarium, acquiring 3.4 million shares (a 10.18% stake). COMPUTER ENGINEERING & CONSULTING had earlier announced in Jun it would explore a capital and business partnership with AI Librarium.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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