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Majesco makes strategic moves to accelerate cloud growth

Majesco has filed a registration statement relating to a rights offering to all shareholders in which it expects its parent company will invest an estimated $35 million that it raised through a Qualified Institutional Placement in India in February 2018.

The funds will be used to support three strategic areas of Bolster Majesco’s Balance Sheet to Fund Future Acquisition Opportunities, Strengthen L&A EMEA Presence to Leverage Growing Market Opportunity and invest in Business Platform to Accelerate and Support Growth. The company intends to use this capital to fund the remainder of the Exaxe acquisition, pay off debt, and accelerate cloud growth, which includes additional acquisition opportunities.

Majesco enables insurance business transformation for approximately 150 insurance customers by providing solutions which include software, consulting and services.

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