California Software to buy Bangalore, India-based networks firm.
Economic Times (New Delhi, India), December, 2004
Dec. 21--CHENNAI, India -- California Software (Calsoft), the Chennai-based software firm, is to acquire Bangalore based WebSpectrum Software for about Rs 2.2 crore.
Mr J K Nair, chief operating officer, CalSoft, told reporters in Chennai on Monday that Chennai-based California Software Company Ltd (Calsoft) will acquire Bangalore-based WebSpectrum Software Pvt Ltd in a deal valued at about Rs 2.2 crore.
CalSoft will pay 25 percent of the deal size in cash and the rest will be linked to WebSpectrum's performance over the next three years.
Specific details are still being worked out. The acquisition will be funded through internal accruals, he said.
WebSpectrum, which is in the networking space, has 35 employees and three key...
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