CALSOFT Limited Aquires 51% equity in Aspire Communications Pvt. Ltd.

For immediate release:- 

 

Calsoft today announced that it has signed a share purchase agreement for
acquisition of majority stake in Aspire. The enterprise valuation of Aspire
Communications Pvt. Ltd, India & its US subsidiary Aspire Soft Corporation
was at Rs.106 million.  The agreement envisages direct investments by
Calsoft into the company as well as purchase of some stake from existing
shareholders to obtain 51% stake.

  

Please find the Press Release on the same attached and enclosed. 

 

Do let me know if you would like to talk to the company's spokesperson.

 

Thanks & Regards,

Pritu Hait

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  pritu.hait@adfactorspr.com 

 

Press Release: - 


Calsoft completes acquisition of majority stake in Aspire Communications 


 

 

Chennai, July 25, 2007: Pursuant to the signing of memorandum of
understanding in May 2007 between California Software Co Ltd. (Calsoft) and
Aspire Communications Pvt. Ltd. (Aspire) to acquire 51% equity in the
latter, Calsoft today announced that it has signed a share purchase
agreement for acquisition of majority stake in Aspire. The enterprise
valuation of Aspire Communications Pvt. Ltd, India & its US subsidiary
Aspire Soft Corporation was at Rs.106 million.  The agreement envisages
direct investments by Calsoft into the company as well as purchase of some
stake from existing shareholders to obtain 51% stake.

 

According to K. Narasimha Nayak, CFO, Calsoft "The financial results of
Aspire will be consolidated in Calsoft group from the second quarter with
effect from July 2007. The company is expected to add Rs.120 million in
revenue and Rs.16 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 - Japan.

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About Calsoft California Software Company Ltd (Calsoft) is a public limited
company in India with a global presence. Its development practices are
certified at CMMi Level 5. Founded in 1992, Calsoft group including
subsidiaries currently employs over 850 employees. The group has development
centers in Chennai and Bangalore in India and Pleasanton, (California),
Boston (MA) in the USA. Calsoft group has marketing offices in the US, UK,
Singapore, Japan, China, Taiwan, Dubai, Hong Kong, Copenhagen and in India.
Calsoft is listed in India at NSE (cali.ns) and BSE (cali.bo).  For more
information on Calsoft visit www.calsoft.co.in <http://www.calsoft.co.in/> 

About Aspire Communications Aspire Communications Pvt. Ltd. is a technology
driven company focused on solutions of Embedded Hardware design, product
re-engineering, device driver development, OS porting, application software
development and specialized service in outsourcing. For more information on
Aspire Please visit  <http://www.aspirecommunication.com/>
www.aspirecommunication.com

For any further details please contact:  



 

Susmita Dinesan

  susmitad@calsoft.co.in

California Software

+91 (44) 22542404

 

Bratin Roy

  bratin.roy@adfactorspr.com

Adfactors Public Relations

+91 9833868621

 

 


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