Calsoft set to acquire US firm Int’l Innovations for $1.3 million
Chennai based California Software is set to fully acquire International Innovations, a California based technology consulting firm for not more than $1.32 million to expand expand its offerings and strengthen its presence in the US market, the company said.
Innovations valuation will be capped at $.132 million and the deal envisages phased payments over a period of one year from the conclusion of a share purchase agreement and based on certain performance parameters. The acquisition process is expected to completed by 31 December.
It said that the innovations acquisition is expected to add $2.3 million with $300000 profit after tax to the consolidated revenues and profit of Calsoft in the first year after consolidation.
Sam Santhose, MD & CEO, California Software said that the innovations brought its expertise and presence in the information management market in the USA, to Calsoft’s enterprise offerings and capabilities, a key focus area for the company.
Innocations delivers business intelligence tools, analytics, business rules management and enterprise search capabilities that help clients improve their decision making processes across all business functions.
