The company made this announcement during trading hours today, 6 April 2011.

Meanwhile, the BSE Sensex was down 85.52 points, or 0.44%, to 19,601.

On BSE, 19,553 shares were traded in the counter as against average daily volume of 2,533 shares over the past one quarter.

The stock hit a high of Rs 79.80 and a low of Rs 72.85 so far during the day. The stock had hit a 52-week high of Rs 82.30 on 28 January 2011 and a 52-week low of Rs 27.80 on 8 April 2010.

The small-cap stock had outperformed the market over the past one month till 5 April 2011, rising 17.02% compared with the Sensex's return of 6.49%. The stock had also outperformed the market in past one quarter, gaining 10.85% as against Sensex's decline of 3.09%.

The company has an equity capital of Rs 5 crore. Face value per share is Rs 10.

ASM Technologies said as part of the deal, ASM will offer to acquire all of the outstanding stock of Abacus through ASM's wholly owned Singapore subsidiary Adanced Synergic Pte.

Commenting on the development, Mr Rabindra Srikantan, managing director of ASM Technologies said the acquisition gives ASM an opportunity to expand its offerings to a larger enterprise resource planning (ERP) client base in the US market. ASM's center of excellence located in India will provide complimentary solutions for Abacus' clients to leverage and manage its enterprise applications, Srikantan added.

ASM Technologies' consolidated net profit declined 13.61% o Rs 1.46 crore on 15.36% fall in net sales to Rs 24.85 crore in Q3 December 2010 over Q2 September 2010.