Calsoft to buy 51% stake in Inatech

California Software Company (Calsoft) has signed a letter of intent (LoI) to acquire majority stake in UK-based Inatech Solutions and Inatech InfoSolutions India.

The enterprise valuation of Inatech was at Rs 30 crore. The deal envisages initial purchase of 51% of Inatech shares through a combination of stock and cash.

The entire process would be completed by October 31, the company informed the BSE today.

"Inatech brings rich Oracle expertise in the enterprise space, especially within the UK market. As enterprise business is one of our focus areas, this will further enhance our value global offering," S Santhosh, Managing Director and CEO, Calsoft, said.