Chennai-based Zylog Systems announced that it has bought Canada-based consulting and engineering company Brainhunter for Rs 150 crore (35 million Canadian dollars).

In a declaration, Zylog said that this acquirement is thru the company's creditors arrangement act (CCAA) bidding route where the company came forth as the winner.

During a conference, which held on January 29, the company's directors have given approval to purchase the Canadian firm.

Brainhunter is a consulting and engineering services company, which has major presence in administrative, telecommunication, BFSI, and oil & pipeline verticals.

Chennai-based Zylog is an international technology integrator and business solution supplier. It has more than 2,000 employees.

Mr. Sudarshan, Zylog Chairman and CEO Sudarshan said, "The company has been looking to enter Canada for its operations and this acquisition would provide us with the appropriate platform."

Zylog Managing Director and COO Ramanujam Sesharathnam stated that Zylog held the 'preferred vendor status'.

The Canadian financial system was one of the few, which had been least affected by the recent slump.

At 10:18 am, the shares of the company surged 0.9% to trade at Rs 337 on the BSE. The share price has seen a 52-week high of Rs 415 and a low of Rs 61.20 on BSE.

Current EPS & P/E ratio of the stock stood at 47 & 7.19 respectively.