Four Soft buys Danish firm, wins Japanese order
Four Soft Ltd said on Wednesday that its board approved 100 per cent acquisition of Denmark’s Transaxiom Holdings A/S for $10 million in a cash and stock deal.
The Danish company, which provides software services for transportation and logistics services providers, would help expand Four Soft’s presence in Scandinavia, Australia and Hong Kong, it said.
"Now our customers will drive greater returns from enhanced global footprint, from Australia to Americas," Mr Kal Gangavarapu, Chief Operating Officer of the company said in a statement.
The company said it would issue 17.7 lakh shares at Rs 75 each to the sellers Winning Alliance ApS, FH Holdings ApS and Paul Rene Larsen.
The payout would be made over the next three years based on the target company’s performance, the acquirer said in a statement.
The integration of the acquired company would begin next month. Transaxiom’s annualised revenues of its current operations would be around $8 million, the statement said.
The software services firm further said that it had secured an order worth Rs 3.4 crore from Japan’s Matsushita Electric Industrial Co.
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