8K Miles Software Services  today announced that its US subsidiary 8K Miles Software Services, Inc. has entered into a stock purchase agreement with NexAge Technologies USA, Inc. (NexAge), a technology solutions company in the U.S.

The agreement includes acquisition of Intellectual Property (IP), technical solutions, client contracts, and employees.

The total consideration for the deal is USD 3,000,000 (three million US dollars) in combination of cash and stock and includes the existing NexAge's debt of USD 800,000.

Suresh Venkatachari, chairman & CEO of 8K Miles said, "With the acquisition of NexAge we will further boost our world class CloudEzRx solution that has been designed with an ultimate goal to address qualification and validation compliance for applications running on the cloud securely with the larger purpose of empowering Pharmaceutical and Life Sciences enterprises to utilize cloud services across value and supply chains."

Shares of the company gained Rs 29, or 2.08%, to trade at Rs 1,420. The total volume of shares traded was 3,524 at the BSE (9.54 a.m., Friday).