Redington (India), a business of supply chain management company, announced that 'Redington Gulf FZE', a step down subsidiary of the company has entered into a definitive agreement to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus).

The balance 30% will be acquired over a 3 year period. The company has been valued around 6X future earnings.

This proposed acquisition is subject to regulatory approvals of authorities in Turkey.

Established in 1995, Linkplus is a leading ORACLE Distributor in Turkey.

Shares of the company gained Rs 5.35, or 4.67%, to trade at Rs 120.00. The total volume of shares traded was 139,176 at the BSE (11.14 a.m., Wednesday).