California Soft acquires balance 49% in Inatech Infosolutions
California Software has picked up balance 49 per cent stake in Inatech Infosolutions at $6.17 million, in an cash and stocks deal.
By INDIATIMES NEWS NETWORK |
MUMBAI: California Software has picked up balance 49 per cent stake in Inatech Infosolutions at $6.17 million, in an cash and stocks deal.
California Software had picked up 51 per cent interest in Inatech, a specialised end-to-end Oracle solutions provider in the enterprise space, in November 2006.
The company was to originally acquire the balance in November 2009.
"Inatech's good performance and European presence encouraged California Software to accelerate the buy out," said Sam Santhosh, MD & CEO, of California Software.
Inatech posted profit after tax of Rs 3.6 crore on revenue of Rs 30.54 crore for the half ended September 30, 2007.
At 12:45 pm, California Software shares were up 1.46 per cent at Rs 86.65 on BSE.
California Software had picked up 51 per cent interest in Inatech, a specialised end-to-end Oracle solutions provider in the enterprise space, in November 2006.
The company was to originally acquire the balance in November 2009.
"Inatech's good performance and European presence encouraged California Software to accelerate the buy out," said Sam Santhosh, MD & CEO, of California Software.
Inatech posted profit after tax of Rs 3.6 crore on revenue of Rs 30.54 crore for the half ended September 30, 2007.
At 12:45 pm, California Software shares were up 1.46 per cent at Rs 86.65 on BSE.
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