Chennai: Continuing its acquisition spree, the Chennai-based California Software Company Limited has decided to buy 51 per cent stake in the Informed Decisions Corp for $2 million. A 'letter of intent' (LOI) has been signed by its wholly owned US subsidiary — CSWL, Inc. to acquire 51per cent equity in US-based Informed Decisions Corp. (IDC) headquartered at Alameda in California.

With this, California Software has acquired four outfits in a short span of time.

The deal envisages an investment of $2 million spread out over a period of three years and involves upfront as well as staged investments linked to performance parameters.

According to Sam Santhosh, managing director and CEO, $1 million will be paid upfront and the balance over a period of three years. The acquisition will be made through the company's fully owned subsidiary CSWL, Inc.

The $7-million revenue US-based Informed Decisions develops solutions for education institutions in North America. The company has 30 employees.