Mumbai: Transportation and logistics software solutions provider Four Soft Limited, will acquire the assets of the freight and shipping software business of FWL Technologies, UK, in an all cash transaction. The transaction is being carried out through Four Soft UK Ltd, a wholly owned subsidiary.
Under the terms of the agreement approved by the companies' boards of directors, the cumulative purchase price will be approximately between Rs10 crore and Rs12 crore, based on performance parameters. The acquisition of business includes IP, staff, customer contracts and business assets.
With this acquisition, 4S expands into the shipping liner software business while further consolidating its coverage in the transportation and logistics vertical. It adds strong domain and technology teams based out of UK, India, Singapore and the US to Four Soft's current operations. The customer base will expand significantly to add shipping liner customers and take the employee strength to over 900.
Dr Kal Gangavarapu, COO, Four Soft, explained, "In line with our domain-centric strategy, this acquisition helps us further consolidate our leadership position in the transportation and logistics domain. This expansion enables us to offer a greater depth of domain and technology experience and expertise, which can only be good news for clients." "4S has been the pioneer in bringing next generation technologies and products to the global logistics markets over the last few years," said Dave Pickburn, VP, UK & Scandinavia. "FWL's established shipping liner and freight forwarding clients will now have access to Four Soft's proven global delivery capability and wide range of offerings"
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