| The transaction value would be approximately US$ 10 m in a cash-and-stock deal with the payouts happening over the next 3 years based on performance. The definitive agreement has been signed between the two companies, and integration will start from 1st of January 2007. A joint team has been identified to work on various aspects of the integration process. Senior executives of both companies have reiterated their commitment and focus on executing this exercise seamlessly. |
| With this merger, Four Soft has consolidated its leadership position within Transportation and Logistics industry. The acquisition adds a number of strategic players in transportation and logistics to current customer base of 4S. In addition, the merger will augment 4S's current domain and technology competence and expand global presence in Scandinavia, Australia and Hong Kong markets. |
| Kal Gangavarapu, COO, Four Soft Ltd said, "Acquisition of Transaxiom is an integral part of our value strategy of market consolidation and will provide 4S with strategic selling opportunities. Now our customers will derive greater returns from enhanced global footprint, from Australia to Americas, and business service integrated solutions." |
| Joergen W Nielsen, Chairman, Transaxiom said, "The combined entity will have enhanced capability to deliver integrated products and specialized services globally. In addition, the acquisition is exceptional for the Logistics solution market as the consolidation will create a unique value proposition to the market and reduce the complexity and fragmentation of solutions used by the customers." |
| About Four Soft: Four Soft is an enterprise solutions company providing innovative software products, exclusively for the freight, transportation, logistics and supply-chain management market place and also offers IT consultancy services. It is among the leaders in the transportation and logistics segment with a large international client base including the majority of the top transportation & logistics companies in the world. The Company adopts a global development and delivery model leveraging the engineering talent of India and the account management and delivery skills of its regional offices. The Company has large customers including DHL, Eagle Global Logistics (EGL), Kuehne+Nagel, Matsushita, Panasonic Logistics, Schenker and UTi. Additional information about Four Soft is available at https://bsmedia.business-standard.comwww.four-soft.com |
| About Transaxiom: Transaxiom provides IT solutions for International transportation and logistics services companies with its head quarters in Denmark and regional offices in Australia, UK, USA and Hong Kong. It has performed more than 325 installations spread across 79 countries. Its major customers include global giants like TNT Freight, DHL, EGL, Maersk Logistics, BAX Global, Blue Water Shipping and Andreas Andersen . Additional information on Transaxiom can be obtained from http://www.transaxiom.com |
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