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.
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