Calsoft to acquire UK-based firm for $ 60 million - Sources
Submitted by Pankaj Lakhotia on Sun, 08/24/2008 - 06:29
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Chennai-based California Software Co Ltd (Calsoft) is close to buying a UK-based firm for $60 million, according to sources.
Through the acquisition, the company hopes to strengthen its business in Oracle-based business software system integration. In FY08, Calsoft's revenues from its Oracle business were $25 million.
To fund the deal, Calsoft is presently looking at various options like loans from bank, promoters etc.
The company had earlier invested in two US firms —Informed Decisions Corp and American Healthnet —as also in Tokyo-based Codex Co Ltd.