Hyderabad-based SoftPro Systems, a business solutions provider in the governance, risk and compliance (GRC) sector, has acquired 100-per cent stake in South African specialist software provider Cura Risk Management Software in a $19-million all-cash deal.

Cura, is an $8-million GRC software solutions provider.

SoftPro expects the deal to yield a six-fold growth to Rs60 crore this financial year. The company is targeting $200 million in revenues in the next five years.

As part of the deal, SoftPro will pay an upfront $16 million and the remaining amount over the next three years based on Cura's performance. The acquisition is likely to be fialised by the end of this month.

''The acquisition is our first step towards the turnaround of our fledgling company. We hope to become a $200-million company in the next five years,'' said G Bala Reddy, chairman and managing director, SoftPro.

GRC processes help in achieving high levels of business performance through reduced risks and uncertainty and through increased corporate governance.

Cura operates offices in South Africa, the US, UK, and Australia with exclusive distributors in 16 countries in Asia and South America. It holds a 75-per cent market share in South Africa and has a leadership position in Australia.

The GRC segment comprises software, consulting and related services. According to Forrester Research, the segment is expected to grow from the current $2.6 billion to over $24 billion in the next five years with an annual growth rate of over 24 per cent.

Softpro's product suite comprises application software, technology integration, ERP, business intelligence, enterprise portals and e-learning packages. It runs a development centre in Hyderabad while another centre is coming up in Visakhapatnam.