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Zensar Technologies Ltd - Updates on Zensar acquires Akibia Inc.

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With reference to the earlier announcement dated November 22, 2010,  regarding Zensar Technologies Inc., a wholly owned subsidiary of the Company has signed definitive agreement agreements to acquire PSI Holdings Group Inc. a limited liability company incorporated in Massachusetts, US and its wholly owned subsidiaries namely (i) Akibia Inc, (ii) Aquila Technology Corp; and (iii) Akibia B.V (hereinafter collectively referred to as the "AKIBIA Group"),  Zensar Technologies Ltd has now informed BSE that Zensar Technologies Inc. a wholly owned subsidiary of the Company has completed all the closing actions as required by the definitive agreement referred above and has accomplished the acquisition of AKIBIA Group through merger process which would be effective from December 31, 2010.


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