SOFTPRO SYSTEMS ACQUIRES 100 PERCENT STAKE IN SA'S FIRM
The Asian Age
IT solutions provider Softpro Systems has acquired 100 percent equity stake in South Africa based Cura Risk Management software for $ 19 million in an all cash deal. The move is likely to help the Indian company grow six fold to over Rs 60 crore by the end of this fiscal.
“The acquisition is our first step towards the turnaround of our fledgling company. We hope to become a $ 200 million company in the next five years,” said G Bala Reddy, Chairman& Managing Director, SoftPro.
Cura is a $ 8 million company which provides integrated software solutions addressing the Governance Risk & Compliance (GRC) requirements. Soft pro will pay $ 16 million upfront and the rest in the next three years based on performance of the acquired company.
The
The Company had announced last week that it would raise Rs 43.20 crore through preferential issue of convertible warrants.
MOSYS INC ACQUIRES PRISM CIRCUITS
The Times of India (
MoSys Inc, a Santa Clara-based provider of high-density system-on-chip (SoC) memory intellectual property (IP), has acquired all the assets and business of privately held Prism Circuits Inc., which supplies high data rate parallel and serial interface IP. MoSys has paid approximately $13.5 million at the closing and will pay an additional earn-out amount of up to $6.5 million after the first anniversary of the closing date, subject to certain terms. The acquisition includes an engineering design center in
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