UTV Software acquires 80% stake in IMPL

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New Delhi, May 23 (UNI) UTV Software Communications Ltd today said its subsidiary has acquired 80 per cent stake in IMPL.

United New Media Ventures Ltd, a wholly-owned subsidiary of UTV Software has completed the acquisition of IMPL, a company statement said.

IMPL has technology-based consumer and trade focussed business model and is positioned as an ''online technology infomediary'' in the country.

The acquisition by UNVML was through a combination of acquisition of equity shares from the existing promoters and subscription to fresh equity shares.

Post completion of the acquisition process, UNMVL will hold 80 per cent of IMPL, it added.

UNI SR AK GC1936

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