Geometric Software announces closure of acquisition transaction
Geometric Software Solutions Company Ltd on October 11, 2006 had informed BSE that the company has entered into an agreement to acquire the engineering services division of Modern Engineering Inc.
Now the company announced that Geometric Software Solutions, Inc. (GSS Inc.) a wholly owned subsidiary of the company has bought 95 per cent shares of Modern Engineering, Inc. (Modern) for $23.75 million. MMG Group LLC, comprising of management group of Modern, holds the balance 5 per cent shares of Modern.
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