Home
California Software planning expansion in Britain
India's News.Net
Sunday 31st August, 2008 (IANS)
Chennai-based software firm California Software Co Ltd (Calsoft) is planning acquisitions to ensure faster growth of its Oracle and Microsoft-based services in Britain.
The Rs.2.36 billion company earns 32 percent of its revenues from enterprise solutions business in Britain.
Calsoft has already identified a $60-million company operating in the Oracle space with a workforce of 300.
'We are in talks with that company. However, we are yet to give our intent in writing to that firm,' Calsoft president and chief executive Sam Santhosh told IANS.
According to him, Calsoft is negotiating with banks for loans before proceeding further on acquisitions. The company hopes to raise 50 percent of the proposed purchase price through bank loans.
Calsoft director Heather More said the firm was looking for companies with a headcount of 30-50, both in Britain and India.
'I had much hopes on that acquisition and spent more time to develop that business,' Santhosh said.
Meanwhile in Chennai, the company inaugurated its own centre, built at an outlay of Rs.7.5 million funded by Canara Bank.
 Email this story to a friend
Have your say on this story
|
 |
 |
- President goes on 10-day tour of Indonesia, Vietnam next week
New Delhi, Nov 21 (IANS) Aiming to give a momentum to India's 'Look East' policy, President Pratibha Patil will go on a 10-day visit to Vietnam and Indonesia beginning Nov 24. [read story]
- Congress president more important than PM: Advani
New Delhi, Nov 21 (IANS) Bharatiya Janata Party (BJP) leader L.K. Advani Friday defended his criticism of Prime Minister Manmohan Singh and said the Congress president Sonia Gandhi had become more important than the prime minister. [read story]
- Over 1,500 polling booths in Delhi sensitive, hypersensitive
New Delhi, Nov 21 (IANS) Over 1,500 booths in Delhi were Friday declared as 'sensitive' and 'hypersensitive' for the Nov 29 assembly elections here - a five-fold increase over the number in the last election in 2003, an official said. [read story]
- Court extends custody of Utsav Bhasin in BMW hit-and-run case
New Delhi, Nov 21 (IANS) A city court Friday extended the custody of 19-year-old Utsav Bhasin, son of a Haryana based industrialist, who is accused of knocking down and killing a motorcyclist while driving his BMW car. [read story]
- Ganguly peps up football side Chirag United
Kolkata, Nov 21 (IANS) Sourav Ganguly, who retired from international cricket early this month, Friday gave a pep talk to I-league soccer side Chirag United. [read story]
|
|
 |
 |
|
|
