MindTree, an IT solutions and product engineering services company, witnessed a sharp rise in the share price on Wednesday after the company announced completion of acquisition of Relational Solutions.

MindTree said it has completed the closing conditions and obtained necessary regulatory approvals with respect to the acquisition of entire ownership interest in Relational Solutions, a US based IT solutions provider specializing in technology services to the consumer goods industry.

Earlier on Jul. 16, 2015, MindTree announced acquisition of Relational Solutions in an all cash transaction for USD 10 million. The consideration included an upfront payment of USD 7 million and earns out of USD 3 million payable over the next two years.

Shares of MindTree are trading at Rs 1,337, up Rs 57.8, or 4.52% at the Bombay Stock Exchange (BSE) on Wednesday at 1:09 p.m.

The scrip has touched an intra-day high of Rs 1,357.25 and low of Rs 1,265.00. The total volume of shares traded at the BSE is 16,487.