California Software Company Ltd (Calsoft) has signed the share purchase agreement for the acquisition of a 51-per cent stake in Aspire. The two companies had agreed in May for Aspire''s majority stake to be bought out by California Software.

The enterprise valuation of Aspire Communications Pvt Ltd, India, and its US subsidiary, Aspire Soft Corporation, was decided at Rs106 million. The agreement envisages direct investments by California Software into Aspire as well as purchase of some stake from existing shareholders to obtain the 51-per cent stake.

According to K Narasimha Nayak, CFO, California Software, "The financial results of Aspire will be consolidated in Calsoft group from the second quarter with effect from July 2007. This company is targeting to add Rs120 million in revenue and Rs16 million in net profit to the Calsoft Group in 2007-08."

Aspire Communications is a technology driven company that focuses on providing embedded hardware design services, product re-engineering, outsourced product manufacturing, device driver development, RTOS porting, application software development and specialized services to Technology companies. Aspire has reputed clients like Intel Corporation, General Electric, Texas Instruments, NDR of Japan.