Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Kale Consultants acquires Cognosys
By siliconindia
|
Friday, 24 October 2003, 19:30 IST
MUMBAI: Airline software services provider Kale Consultants has acquired the venture-funded Cognosys Software in a cash and stock deal said to be worth about $1 million, reports an Indian daily.
Delhi-based Cognosys is a product and services focused on the travel industry and has an internet product for the travel agents.
Rajnish Kapur is the founder of the company and is funded by Infinity Capital. The venture fund is expected to get cash portion for selling its stake to Kale Consultants. Kale shares rose 1.3% to Rs 35.45 versus a nearly 2% drop for the main Sensex.
Cognosys is a travel technology company, with leading edge products such as eBizTravel (an end-to-end e-procurement solution for business travel), eBookEngine (Internet booking engine), eFlightInfo (Automatic Real-time dissemination of operational flight information) and eFareEngine (Fare Data Management).
The company also provides customised software solutions to companies like TQ3, Lastminute.com, Cox & Kings, TCube, Secure-res and others.
Cognosys employs around 50 people. Cognosys is in the travel business while Kale has been focused on the airline industry. These two markets are interconnected but at the same time they are quite different, the acquisition fits in with our approach of expanding our services to the travel industry, Vipul Jain, the managing director of Kale Consultants, told the daily. (Source: Economic Times)