MindTree, an IT solutions and product engineering services company, has completed the closing conditions and obtained necessary regulatory approvals with respect to the acquisition of entire ownership interest in Relational Solutions, 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, Inc. 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.

On acquisition of Relational Solutions, Radha R, EVP and head, digital business, Mindtree had commented, "CPG clients are seeking to use advanced analytics to improve ROI on trade spends, improve on-shelf availability and correct merchandising voids." 

Shares of the company gained Rs 58.5, or 4.57%, to trade at Rs 1,337.70. The total volume of shares traded was 16,457 at the BSE (12.58 p.m., Wednesday).