Ace Software Exports Limited (BSE:531525) agreed to acquire remaining 60% stake in QeCAD for INR 28.6 million on June 5, 2024. A cash consideration of INR 28.63 million will be paid by Ace Software Exports Limited. As part of consideration, INR 28.63 million is paid towards common equity of QeCAD. Upon completion, Ace Software Exports Limited will own 100% stake in QeCAD.

For the period ending March 31, 2024, QeCAD reported total revenue of INR 29.57 million.

The transaction is approved by the board of Ace Software Exports Limited (BSE:531525) and is subject to shareholder approval. The acquisition is expected to be completed in the next 4 to 6 months from the Current date.