Mphasis Shares Hit Record High On Acquiring US-Based Blink UX

Shares of the Bengaluru-based information technology company - Mphasis - rose as much as 3.2 per cent to hit record high of Rs 3,301.

Mphasis Shares Hit Record High On Acquiring US-Based Blink UX

Blink has a marquee customer base wherein it counts Facebook and Amazon as its clients.

Shares of the Bengaluru-based information technology company - Mphasis - rose as much as 3.2 per cent to hit record high of Rs 3,301 on the BSE after the company informed exchanges that it acquired US-based Blink UX, a user experience research, strategy, and design firm. Mphasis acquired 100 per cent stake in Blink UX for a total consideration of $94 million.

Blink's acquisition is expected to provide access marquee logos, strengthen experience business and is leadership and revenue growth accretive, Mphasis said in an exchange filing.

Mphasis cited access to Blink's marquee client base, strong tenured leadership and expansion of total addressable market (TAM) as some of the factors behind its acquisition of Blink.

Blink has a marquee customer base wherein it counts Facebook, Amazon, T-Mobile, Google, Dell, NASA, ebay and Edelman Financial among others as its clients.

Headquartered in Seattle, with over 130 employees, Blink has additional studios in Austin, Boston, San Diego, and San Francisco. Founded in 2000, Blink has over two decades of expertise using their Evidence-driven Design SM process to define digital user experiences for clients, Mphasis said in a press release.

As of 11:48 am, Mphasis shares traded 1.91 per cent higher at Rs 3,260, outperforming the Sensex which was trading on a flat note.

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