Calsoft completes 100% acquisition of Inatech Infosolutions
California Software Company Ltd (Calsoft) on Monday said it has completed 100 per cent acquisition of Inatech Infosolutions.
By PTI |
CHENNAI: California Software Company Ltd (Calsoft) on Monday said it has completed 100 per cent acquisition of Inatech Infosolutions, India.
Calsoft signed an MoU with Inatech Infasolutions, India (Inatech) to acquire the remaining minority shareholding of 49 per cent for a consideration of USD 6.17 million, to be paid through a combination of cash and stocks, subject to regulatory approvals, Sam Santhosh, Managing Director and CEO, Calsoft told a press conference here today.
Calsoft had taken 51 per cent stake in Inatech, a specialised end-to-end Oracle solutions provider in the enterprise space. As part of the agreement Calsoft was to acquire the balance stake in November 2009.
Inatech posted net profit of Rs 3.6 crore for the half-year ended September 30,2007.
The acquisition would help Calsoft acquire new clientele through Europe, he said.
To a query on rupee appreciation, he said that Calsoft was protecting profits through natural hedging and increasing business from Europe and other countries.
Calsoft signed an MoU with Inatech Infasolutions, India (Inatech) to acquire the remaining minority shareholding of 49 per cent for a consideration of USD 6.17 million, to be paid through a combination of cash and stocks, subject to regulatory approvals, Sam Santhosh, Managing Director and CEO, Calsoft told a press conference here today.
Calsoft had taken 51 per cent stake in Inatech, a specialised end-to-end Oracle solutions provider in the enterprise space. As part of the agreement Calsoft was to acquire the balance stake in November 2009.
Inatech posted net profit of Rs 3.6 crore for the half-year ended September 30,2007.
The acquisition would help Calsoft acquire new clientele through Europe, he said.
To a query on rupee appreciation, he said that Calsoft was protecting profits through natural hedging and increasing business from Europe and other countries.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
