S Global Services Pte ltd., Singapore, (SGIC), a step – down subsidiary of the Spice Mobility, decided to invest BDT233,333 in Fast Track IT Solutions Limited, a private company limited by shares incorporated under the laws of Bangladesh . Consequent to the said acqu isition, Fast Track IT Solutions Limited would become a step down su bsidiary of the Company.
Details of the Target Entity
Fast Track IT Solutions Ltd. (‘Fast Track’), a private company limited by shares incorporated under the laws of Bangladesh and having its Regd. Off at Apt A4, House 6, Road 7, Block C, Niketan, Gulshan- 1, Dhaka 1212, Bangladesh.
Objects and effects of acquisition
Object: Developing business in IT, ITES and value added services.
Effect: post acquisition, Fast Track will become a subsidiary of S Global Services Pte. Ltd., Singapore with the shareholding of 70% and a step down subsidiary of Spice Digital Ltd. and Spice Mobility Ltd.