Calsoft may acquire Aspire Comm

CHENNAI: California Software (Calsoft) is set to acquire 51% stake in Aspire Communications, a hardware design services company in a cash and stock deal for an undisclosed amount, reports Our Bureau.

The two companies signed a deal on Tuesday, which would would culminate into a final share purchase agreement. The process is expected to culminate by July 2007 and to add $3 million in revenue and $400,000 in net profit to the Calsoft Group in 2007-08.

Calsoft MD and CEO Sam Santhosh said, “This will help Calsoft augment its product engineering services. With the Hardware Design expertise that Aspire Communications brings we can now provide end-to-end solutions in the outsourced product development space.”

Aspire Communications CEO Mahesh K Rao said, “We are excited at the opportunity of servicing the Calsoft customer base, especially the BIOS and Flash customers in US and China. Joining the Calsoft group will allow us to grow faster under a bigger umbrella.”