India's Vertoz on course for best day in over 2 months on acquiring US-based Webimax

Shares of Vertoz VERZ.NS rise 4.1% to 74.5 rupees, highest since October 7

Shares on course for biggest intraday percentage gain since September 17

AI & cloud tech firm's U.S. subsidiary signed a definitive agreement to acquire 100% of Webimax LLC, an AI-driven marketing automation firm based in New Jersey

Vertoz will acquire 80% upfront for $5.28 million and the remaining 20% over three years

The acquisition is expected to add about 170 million rupees ($1.9 million) annualized PAT to Vertoz’s profits after completion

Stock down 46.3% YTD

($1 = 89.2625 Indian rupees)