Calsoft takes 50% in Team Frontline

By SiliconIndia   |   Monday, 27 September 2004, 07:00 Hrs
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KOCHI: The Chennai-based California Software Company (Calsoft) has picked up 50% stake in the Kochi-based Team Frontline, one of the largest system integrators in the state.

The two companies have signed an MoU (memorandum of understanding) to that effect.

Team Frontline will function as a separate company under the present management after inducting three new directors from Calsoft onto its board, S R Nair, managing director, said here.

S Santhosh, managing director, Calsoft, said the company sees the investment as ‘‘strategic’‘ which will not only ‘‘facilitate the enterprise division of Calsoft to provide its customers with total solutions, but also provide an initial operating base in Kerala’‘.

It is now easier for the company to reach out to markets in the Gulf , he said, adding that it makes sense for small companies to come together for growth.

Calsoft is a public limited company listed on the BSE and the National Stock Exchange with a global presence. It had a turnover of $9.4 million last year. The company, with 300 engineers, operates out of Chennai with projects running in the US, UK, Singapore and Japan.

The company will bring additional capital into Team Frontline by way of equity and loan.

The investment would enable Team Frontline to market its own brand of PCs launched recently called ‘Orchid’, and other products in the pipeline like servers, laptops, UPS etc. on a national scale.

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