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Majesco completes acquisition of parent company's India-based software biz

Insurance technology company Majesco on May 15 completed its acquisition of parent Majesco Ltd.'s India-based insurance software business for about 243.7 million Indian rupees.

The software business was acquired by Majesco and Software Solutions India Pvt. Ltd. The acquisition included the parent company's customer contracts and certain employees.

As of May 20, US$1 was equal to 69.70 Indian rupees.