Mumbai-based Financial Technologies India Limited has informed that the company has acquired 90% stake in ICX Platform (Pty) Ltd, a Technology company situated at Johannesburg, South Africa, having IPR and corporate ownership of Electronic Warehouse Receipts Technology, at a cost of up to US$ 1.50 million.

However, the deal is subject to applicable approvals and fulfillment of certain representations and warranties by the sellers of ICX.

Financial Technologies (India) Limited provides technology intellectual property and domain expertise to create and trade on financial markets across various asset classes, including equities, commodities, currency, and debt.

Shares of the company gained Rs 12.20, or 1%, to trade at Rs 1717. It touched an intraday high of Rs 1739 and low of Rs 1690. The total volume of shares traded was 40,626 at the BSE. (1.18 p.m., Thursday)