Calsoft completes Inatech acquisition

California Software Company (Calsoft) has signed an MoU with Inatech Infosolutions to acquire the remaining 49% in Inatech for around $6.17 million (Rs 24.37 crore).

"Inatech's good performance, their management team and European presence have encouraged us to accelerate the buy out. We expect the transaction to be accretive to Calsoft's earnings. Given the size of our organisation and the complementary nature of our businesses, we should recognise substantial revenue synergies and significant economies of scale," said S Santhosh, managing director & CEO, California Software Company.

Calsoft had acquired 51% in Inatech, a specialised end-to-end Oracle solutions provider in the enterprise space. As part of the agreement, the company was to originally acquire the balance 49% stake in November 2009. 

Inatech posted consolidated revenue of Rs 30.54 crore and profit after tax of Rs 3.6 crore for the half year ended September 30, 2007.