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Kinaxis CEO John Sicard is seen at the company's office in Kanata on Dec. 14, 2018.

Shares of Kinaxis Inc. shot up about 11 per cent after the company announced it had acquired India-based Prana Consulting Inc. to boost its global supply chain business.

Ottawa-based Kinaxis says the deal adds a skilled team and creates a regional hub from which it could expand services in the region.

Its shares were up $11.31, or 11.25 per cent, at $111.81 in afternoon trading on the Toronto Stock Exchange.

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Company CEO John Sicard says Kinaxis has worked with Prana for 15 years and the team is familiar with Kinaxis’ proprietary logistics software.

A day earlier, the company reported a profit of US$7.8 million, or 29 cents a share, up from US$2.9 million or 11 cents per share for the same quarter a year earlier.

Kinaxis provides logistics and supply chain support to a range of industries.

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