Chennai-based California Software (Calsoft) is acquiring a 100% equity stake in technology consulting firm International Innovations Inc., to strengthen its enterprise offerings in the analytics and business rules management space. The target company’s valuation will be capped at a maximum of $1.32 million (approximately Rs 5.3 crore).
The letter of intent (LoI) to purchase the Mountain View, California-based, company will culminate in a definitive share purchase agreement, the process of which is expected to be completed by December 31 this year. The deal envisages phased payments by Calsoft over a period of one year from the conclusion of the share purchase agreement and will also be based on certain performance parameters, Calsoft said.The acquisition is expected to add $2.3 million with PAT of $300,000 to Calsoft’s cash kitty over the next 12 months.
Read more in The Business Standard article.
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