Cambridge Technology Enterprises Ltd. — M&A Activity 2023

Jun 23, 2023

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June 23, 2023

To, Corporate Relationship Department, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

To, The Listing Department, National Stock Exchange of India Ltd Exchange Plaza, Plot No/C/1, G Block Bandra Kurla Complex , Bandra (East), Mumbai – 400 051

Dear Sir/Madam,

Sub: Acquisition Ref: Regulation 30 of the Listing Regulations, BSE Scrip Code: 532801, NSE Code: CTE

On recommendation of the Audit Committee, the Board of Directors at their meeting held today i.e., June 23, 2023, approved proposed acquisition of R.P. Web Apps Private Limited.

The details as required under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are given below:

S. No	Particulars	Company
a)	Name of the target entity, details in brief such as size, turnover etc.;	R.P. Web Apps Private Limited (“RPWAPL”) Paid up Capital – Rupees 608,800/- Turnover for the financial year 2022-23: INR 5.20 crores PAT for the financial year 2022-23: INR 0.54 crores Net worth for the financialyear 2022-23: INR 4.75 crores
b)	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”;	No
c)	Industryto which the entitybeingacquired belongs;	Information Technology
d)	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	To acquire business and customers of RPWAPL and retaining its talent. It would be in the interest of the company to induct strategic promoter and investor into the company, for expeditiously completing the development of the projects and achieving the commercial operations. The business of RPWAPL is not outside the main line of business of the Company. The proposed acquisition is in line with the long-term outlook of the Company in venturing in the IT space. The Company will be able to leverage the association of RPWAPL to grow in IT space in India & Dubai
e)	Brief details of any governmental or regulatory approvals required for the acquisition;	Not applicable

Registered & Corporate Office:
Cambridge Technology Enterprises Limited	Bengaluru	Mumbai	Chennai
Capital Park, 4thFloor, Unit No. 403B & 404,	91 Springboard Business Hub Pvt Ltd, 4th	Level 4, A Wing, Dynasty Business	AMARA SRI, situated at old No:
Plot No. 1-98/4/1-13, 28 & 29, Survey No.72,	Floor, #175 & #176, Dollars Colony, Phase 4,	Park Andheri Kurla Road, Andheri	313, New No: 455, Block No: 75,
Image Gardens Road, Madhapur,	JP Nagar, Bannerghatta Main Road,	(E) Mumbai - 400 059,	7th floor, Anna Salai Teynampet,
Hyderabad - 500 081, Telangana, India.	Bengaluru - 560 076, Karnataka, India.	Maharashtra, India.	Chennai 600018, Tamilnadu,
Tel:+91-40-6723-4400	Tel: +91-80-4633-4400	Tel:+91-22-6786-9410	India
Fax:+91-40-6723-6800	Fax:+91-80-4299-5779	Fax:+91-22-6786-9199	Tel: 040-6723-4400
Email id: cte_secretarial@ctepl.com
CIN: L72200TG1999PLC030997	www.ctepl.com

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f)	indicative time period for completion of the acquisition;	July 30, 2023
g)	Nature of consideration - whether cash consideration or share swap and details of the same;	Cash Consideration. The Board of the Company approved to invest (including any other financial commitment) upto a sum of Rupees 3 Crores for acquisition of upto 100% votingrights of RPWAPL.
h)	Cost of acquisition or the price at which the shares are acquired;	3 crores.
i)	Percentage of shareholding / control acquired and / or number of shares acquired;	Nil
j)	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	It is engaged in the business of information technology and web based solutions. It has been incorporated on August 04, 2009 and turnover of last three financial years was: 2022-23: INR 51,998,929/- 2021-22: INR 46,385,062/- 2020-21: INR 3,91,61,533/- Countryofpresence: India & Dubai

Thanking you,

Yours faithfully,

For Cambridge Technology Enterprises Limited

ASHISH Digitally signed by ASHISH BHATTAD BHATTAD Date: 2023.06.23 16:34:29 +05'30' Ashish Bhattad (Company Secretary & Compliance Officer) Membership No. A34781

Registered & Corporate Office:

Cambridge Technology Enterprises Limited Bengaluru Capital Park, 4[th] Floor, Unit No. 403B & 404, 91 Springboard Business Hub Pvt Ltd, 4th Plot No. 1-98/4/1-13, 28 & 29, Survey No.72, Floor, #175 & #176, Dollars Colony, Phase 4, Image Gardens Road, Madhapur, JP Nagar, Bannerghatta Main Road, Hyderabad - 500 081, Telangana, India. Bengaluru - 560 076, Karnataka, India. Tel:+91-40-6723-4400 Tel: +91-80-4633-4400 Fax:+91-40-6723-6800 Fax:+91-80-4299-5779 Email id: cte_secretarial@ctepl.com CIN: L72200TG1999PLC030997

Mumbai Chennai Level 4, A Wing, Dynasty Business AMARA SRI, situated at old No: Park Andheri Kurla Road, Andheri 313, New No: 455, Block No: 75, (E) Mumbai - 400 059, 7th floor, Anna Salai Teynampet, Maharashtra, India. Chennai 600018, Tamilnadu, Tel:+91-22-6786-9410 India Fax:+91-22-6786-9199 Tel: 040-6723-4400

www.ctepl.com