Saksoft Limited — Capital/Financing Update 2024

Jun 12, 2024

==> picture [455 x 87] intentionally omitted <==

June 12, 2024

The Listing/Compliance Department The National Stock Exchange of India Limited “Exchange Plaza” Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 Stock Code: SAKSOFT		The Listing/Compliance Department BSE Limited Floor No.25, Phiroze JeejeebhoyTowers, Dalal Street, Mumbai – 400 001 Stock Code: 590051

Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”)

Dear Sir/Madam,

Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI LODR Regulations, we wish to inform that the Company has executed a Share Purchase Agreement (“Agreement”) to acquire 100% equity interest in Augmento Labs Private Limited (“Augmento Labs”) subject to the terms and conditions set out in the Agreement. Augmento Labs will become a wholly owned subsidiary of the Company on closure of the transaction.

The required information under Regulation 30 of the SEBI LODR Regulations, read with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is appended and marked as Annexure A.

A Press release with respect to the above is enclosed herewith as Annexure B.

We request you to take the above information on record.

Thanking you,

For Saksoft Limited

==> picture [67 x 34] intentionally omitted <==

Ms. Meera Venkatramanan Company Secretary

Encl.: As above

==> picture [455 x 54] intentionally omitted <==

==> picture [455 x 87] intentionally omitted <==

Annexure A

Disclosure under Regulation 30 of the SEBI LODR Regulations:

==> picture [444 x 415] intentionally omitted <==

----- Start of picture text -----

S. No. Particulars Disclosures
1 Name of the target entity, details in brief Augmento Labs Private Limited (“Augmento
such as size, turnover etc. Labs”) is a Digital Engineering Company having
Enterprise Clients across India and US.
Turnover of Augmento Labs for the year ended
March 31, 2024 was around Rs. 45 crores.
2 Whether the acquisition would fall No. The transaction does not fall within the related
within related party transaction(s) and party transaction and none of the
whether the promoter/ promoter promoter/promoter group/ group companies
group/ group companies have any have any interest in the entity being acquired.
interest in the entity being acquired? If
yes, nature of interest and details
thereof and whether the same is done at
“arm’s length”
3 Industry to which the entity being The entity being acquired belongs to the IT / ITes
acquired belongs industry
4 Objects and impact of acquisition This acquisition will strengthen Saksoft Limited ‘s
(including but not limited to, disclosure capability in the Digital Engineering space and will
of reasons for acquisition of target also provide access to Enterprise clients.
entity, if its business is outside the main
line of business of the listed entity)
5 Brief details of any governmental or No government or regulatory approval is
regulatory approvals required for the required for the acquisition.
acquisition
----- End of picture text -----

==> picture [455 x 54] intentionally omitted <==

==> picture [455 x 87] intentionally omitted <==

6	Indicative time period for completion of the acquisition	The transaction is expected to be completed within the next four weeks.
7	Consideration - whether cash consideration or share swap or any other form and details of the same;	The Company will discharge the consideration under the Share Purchase Agreements by way of cash.
8	Cost of acquisition and/or the price at which the shares are acquired	Total cash consideration of upto Rs 100 crores with an upfront cash consideration of Rs 35 crores and the balance as earnout consideration based on performance over two financial years.
9	Percentage of shareholding / control acquired and / or number of shares acquired	On completion of the transaction, Saksoft Limited will own 100% of equity interest in Augmento Labs.
10	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)	Augmento Labs is Private Limited Company engaged in the business of providing Digital engineering services for its customers predominantly across US and India. Date of Incorporation: 09/12/2019 Country of Incorporation: India Turnover for the last 3 years: FY 2023-24 – Around Rs. 45 crores FY 2022-23 – Rs 44.84 crores FY 2021-22 – Rs 29.81 crores

==> picture [455 x 54] intentionally omitted <==

Annexure B

==> picture [455 x 87] intentionally omitted <==

Saksoft Strengthens Digital Engineering Portfolio with Acquisition of Augmento Labs

Chennai, India – June 12, 2024 – Saksoft, a leading IT services provider, today announced the acquisition of Augmento Labs, a digital engineering company headquartered in Bangalore, Karnataka, in a strategic move to enhance its capabilities and presence in the product engineering space.

Saksoft stated that it anticipates the transaction will be �inalized by the end of the current quarter, pending customary closing conditions. This acquisition will signi�icantly enhance Saksoft's ability to offer comprehensive solutions across digital engineering spectrum across our focus verticals.

Founded in 2019, Augmento Labs has established itself as a niche player in the Digital Engineering space offering innovative solutions across various industries including Hi-Tech, automotive, healthcare, and industrial domains.

Speaking on this acquisition, Aditya Krishna, Chairman & Managing Director, Saksoft, said, “We believe that acquiring Augmento Labs will signi�icantly strengthen Saksoft’s position in the dynamic and rapidly growing digital engineering market. “Augmento Labs robust engineering expertise and domain knowledge will complement Saksoft’s broad scale and digital prowess, providing Augmento Labs esteemed client base access to our cutting-edge AI, Cloud, and Data technologies.”

“This acquisition marks an exciting new chapter for Augmento Labs” said Anurag Aggarwal and Pravesh Kumar, Co-Founders of Augmento Labs. “Joining forces with Saksoft allows us to leverage their inherent domain and technology capabilities apart from their top notch talent to deliver even greater value to our clients. We are enthusiastic about the opportunities going forward .”

==> picture [455 x 54] intentionally omitted <==