Alithya Group Inc (NASDAQ: ALYA) stock price movement ended on the last session at $2.45. It recently traded at $2.36 which is a 4.08% drop in the ALYA stock’s price. The current market surge caused more than a 15.74%% positive movement in the stock price.
The recent surge in the ALYA stock comes possibly due to investors reacting to the news of Alithya Group Inc.’s (ALYA) acquisition of a private Quebec firm- R3D Conseil.
Insight on Alithya’s operational bases and company background
Alithya Group Inc (ALYA) is an information technology company specifically for strategy and digital transformation company. It is considered the North American leading IT Company for its field. The company has a workforce population of 2,200 professionals. ALYA’s operational base and services portfolio consist of business solutions, business analytics, application services, and business strategies.
ALYA implies a set of adaptable and moldable strategies, tools, and solutions to meet up the customized needs of customers. These services range in a plethora of fields consisting of manufacturing, financial services, healthcare, government, logistics, and professional services.
Acquisition of R3D ConseilInc by Alithya Group Inc.
R3D is also an IT company that provides consultation to its clients for integrating their business models with IT services and sector.
The acquisition transaction between the two companies is a definitive agreement that will consist of a volume commitment of C$600 million as an annual minimum. These volume commitments were made by R3D Conseil’s indirect shareholders known as Quebecor and Beneva during the initial 10-year term commercial agreements.
Why this acquisition transaction is significant for ALYA stock
Paul Raymond, Chief Executive Officer announced the detailed framework of this transaction. Acquisition will allow for 600 experienced Quebec-based professionals to work with Alithya (ALYA). These specialists will be working specifically in consultation and digital application development in the above described operational portfolios of ALYA.
Along with these 600 existing clients of R3D, there will be 350 more jobs added in Quebec for Digital Transformation Experts that will tag along in the telecommunications and insurance sector. Furthermore, Quebecor and Beneva will now be official business partners of the merged Alithya Group Inc. (ALYA) and each will hold 11.9% Alithya’s share capital.
The transaction of this acquisition is expected to be finalized and closed during the end of the first financial quarter of 2022. This acquisition will bring together 2 main shareholders/investors as well as 2 leading IT solution companies together. ALYA has yet to announce how it plans to expand its operational fundamentals considering that it is adding into its workforce an arsenal of 600 Quebec-based IT experts.
