Mascon Global Ltd has informed that the company’s board of directors has approved the acquisition of two U.S.-based firms.

The first company named, Jass and Associates is engaged in providing ERP solutions to fortune 100 clients, while the other, SDG Corporation is engaged in providing Identity management solutions, digital media and broadcast to fortune 100 and fortune 500 clients.

The total consideration for the aforesaid companies has been finalized at US$ 55 million, to be settled by issue of GDR for US$ 20 million and balance by cash payment of US$ 35 million, an official release stated.

New-Delhi headquartered, Mascon Global Limited provides information technology (IT) services in the United States, Canada, Latin America, Europe, India, and the Asia Pacific region.

The company shares ended 1.23 percent up at Rs 16.80 in the Mumbai market. It touched an intraday high and low of Rs 17.15 and 16.35 respectively.