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Calsoft acquires WebSpectrum
By agencies
|
Wednesday, 20 April 2005, 19:30 IST
BANGALORE: California Software Company Ltd (Calsoft), a listed and SEI CMM 5 level IT company, today said that it had completed acquiring 100 percent equity of WebSpectrum Software Pvt Ltd and would double the headcount in the Bangalore facility.
Calsoft formally signed the acquisition and share transfer agreement today and the Bangalore based Webspectrums representatives after completion of all procedures and legal formalities, a statement said here.
Calsoft had signed an initial MoU in December 2004 with the Webspectrum and nominated three directors onto the Board of Webspectrum. All the existing principal promoters of Webspectrum will continue to work with the company.
Incorporated in 1997, Webspectrum focuses on network management systems and networking products. It has staff strength of 34 and its provisional figures reported a turnover of 
2.3 crore for the year ended March 31, 2005.
With this acquisition, Calsoft will be strengthening its Technology Solutions Division, which has been providing outsourced product development and network programming services, besides expanding its operations into Bangalore.
Calsoft plans to enhance its Bangalore facility to at least double the current head count by the end of 2005.
Headquartered in Chennai, Calsoft has development centers in Chennai and Bangalore and Pleasanton in U.S. It has marketing offices in U.S., U.K., Japan, Singapore and Dubai and employs over 400 persons.
2.3 crore for the year ended March 31, 2005.
With this acquisition, Calsoft will be strengthening its Technology Solutions Division, which has been providing outsourced product development and network programming services, besides expanding its operations into Bangalore.
Calsoft plans to enhance its Bangalore facility to at least double the current head count by the end of 2005.
Headquartered in Chennai, Calsoft has development centers in Chennai and Bangalore and Pleasanton in U.S. It has marketing offices in U.S., U.K., Japan, Singapore and Dubai and employs over 400 persons.