Outcome of Board meeting held for approval of acquisition of company incorporated in USA
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The Board of MethodHub Software, at its meeting on February 6, 2026, approved the acquisition of a 60% equity stake (6,000 shares) in Sewtech Inc., a Florida, USA-based IT services company, for a cash consideration of USD 2.66 million (approximately INR 240 million). Sewtech reported a turnover of USD 15.68 million in 2025 and operates in software consultancy, application development, and support services. Sewtech also holds a 51% stake in Nemera Technologies Co. Ltd. in Thailand, which will become a step-down subsidiary of MethodHub. The transaction is not a related-party deal and is expected to be completed within 30 days. The acquisition aims to drive inorganic growth and secure end-customer engagements, including onsite presence in the US.
This is a moderate-sized, cash-funded acquisition that gives MethodHub a US foothold and an indirect Thailand subsidiary, potentially boosting revenue and geographic reach. For shareholders, it signals growth ambitions but the deal size (~$2.66M) is small relative to typical listed-company moves, so near-term stock impact may be limited pending execution.