Calsoft to acquire majority stake in Inatech

14 September 2006

Mumbai: California Software Company Ltd (Calsoft) will acquire a majority equity stake in UK's Inatech Solutions and its Indian subsidiary Inatech InfoSolutions India in a stock-and-cash deal worth around Rs 30 crore.

Calsoft has signed a letter of intent (LoI) with Inatech for arriving at a definitive share purchase agreement, subject to standard closing conditions, necessary approvals and completion of all formalities. The entire process is expected to be completed by October 31.

Inatech is a specialised Oracle solution provider with a major focus in construction, hi-tech, manufacturing, distribution and the government sectors. The company enjoys the highest level of Oracle partnership - certified advantage partner in the EMEA region and services a full range of Oracle products worldwide.

Inatech is mainly focused on the UK market and continues to work with Oracle's e-business suite and new technologies like fusion and mobile applications.

"Inatech brings rich Oracle expertise in the enterprise space, especially within the UK market. Enterprise business is one of our focus areas. This will further enhance our value offering globally," said Sam Santhosh, managing director and CEO of the company.

Calsoft will initially acquire 51 per cent of Inatech shares. Spark Capital Advisors (I) Pvt Ltd, Chennai is providing financial advise for the deal.