Four Soft plans to acquire European firm

HYDERABAD: Hyderabad-based Four Soft, a transport and logistics software technology company, is scouting for acquisitions in Europe. The company is planning to raise capital by issuing ADR/GDR or bonds to fund the acquisition. It is learnt that the size of the acquisition would be in the region of $4 million to $10 million.

The company board is slated to meet on December 20 to finalise details on fund raising. The proposed acquisition is expected to strengthen its presence in the Europe. When contacted, company officials declined to reveal any details.

FourSoft had, in October, entered into an agreement to acquire the assets of the freight and shipping software business of the UK-based FWL Technologies through its subsidiary Four Soft UK Ltd. The cumulative purchase consideration for this deal was in the range of Rs 10 crore to Rs 12 crore based on certain performance parameters in an all-cash transaction.

In the fiscal ended March 31, 2006, Four Soft recorded consolidated revenues of Rs 90.16 crore against Rs 20.32 crore in the previous fiscal.

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