Shares of small-cap stock Datamatics Global Services gained 13% on the bourses after the company said it signed a deal with Microsoft.

What Happened: Datamatics in its regulatory filing said it partnered with Microsoft to build AI solutions through Copilot. The company will develop Copilot solutions which will focus on process automation to accelerate business transformation for organizations, the company said in its press release. 

The partnership was unveiled at the Microsoft Build 2024 conference held in Seattle, USA. Datamatics was acknowledged as one of the Independent Software Vendors (ISVs) developing a custom copilot solution.

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Datamatics has introduced a Partner On-boarding Copilot, available on the Microsoft Teams store, which combines Azure OpenAI with Datamatics Intelligent Automation Platform. The firm is tailoring solutions for each organization with support for Microsoft 365 or creating custom copilots for each unique client organization.

Microsoft has also spotlighted Datamatics in its “AI First Movers” series, which applauds companies for their significant use of AI at scale.

In its Q1 results, Datamatics posted a 21.04% year-on-year decline in net profit to ₹43.49 crore. It had a net profit of ₹55.08 crore in the previous year. Its revenue was up 0.74% from the previous year to ₹393.99 crore. 

Price Action: Shares of Datamatics Global rose 13.01% to ₹634 on Tuesday. 

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