Mumbai, March 2: RPG Group will acquire Fujitsu Group’s 30 per cent stake in Zensar Technologies for an undisclosed sum.

This acquisition will raise RPG Group’s stake in Zensar to 60 per cent. The agreement between the two companies is believed to have been reached late yesterday. A company statement said the agreement comes into force with immediate effect and the deal will be completed shortly.

Both RPG and Fujitsu held a little over 69 lakh shares in Zensar. Jubilee Investment and Industries Ltd or its affiliates, which is part of RPG Group, will acquire these shares.

Harsh Goenka, chairman of Zensar, said the stake purchase would enable the group to consolidate its stakeholding in the company. “We are delighted that Fujitsu has agreed to sell us the stake in Zensar. This enables us to consolidate our shareholding in the company, which has been performing well in the last few years and opens up possibilities of major growth in the years to come,” he said.

Zensar vice-chairman and managing director Ganesh Natarajan said, “This shareholding change opens up avenues for growth that will see the company realise its true potential in the coming years. We expect to achieve and exceed our performance guidance this year and are targeting a 50 per cent plus growth for the coming fiscal. With a full management team in place, excellent capabilities in all our service areas and a growing list of global customers, we look forward to moving to the next level of success.”

Pune-based Zensar provides IT and BPO services and has operations in over 15 countries. The company has delivery centres in Pune and Hyderabad. It also has operations in China, the UK and the US. A centre is coming up in Poland. The company provides services in infrastructure management, transaction processing and enterprise applications services ranging from Oracle and SAP to other services. For the nine-month period ended December 31, 2006, the company’s revenues grew by 43 per cent.

Zensar recently acquired the US-based ThoughtDigital. It was an all-cash deal valued at $25 million. ThoughtDigital specialises in Oracle applications and it had a turnover of $27 million in 2006.

Zensar has posted a net profit of Rs 13.22 crore in the quarter ended December 31. The company garnered a revenue of Rs 148 crore.