IT People India

IT People India Ltd has informed that the Board of Directors of the Company at its meeting held on September 24, 2007, has approved the acquisition of 100% stake in Marketplace Technologies Pvt Ltd, formerly known as ENC Software Solutions Pvt Ltd., a closely held Company, and the eventual amalgamation of it in to IT People, subject to necessary approvals from shareholders and authorities. The Company has entered into Memorandum of Understanding (MOU) with the promoters (stakeholders) of Marketplace Technologies Pvt Ltd on September 24, 2007.