The Hindu Business Line : Four Soft to buy two firms from SkyWest

FOUR Soft Ltd, the Hyderabad-based supply chain and logistic solutions provider, has entered into a definitive agreement for acquisition of two overseas firms, a Singapore-based services provider and a Malaysian company in a stock-cum-share deal, from SkyWest, their holding company..

The company has entered into share purchase agreement (SPA) for acquiring shares of Comex Frontier, based in Singapore, providing freight forwarding and logistics services, and MY Comex Sdn Bhd, based in Malaysia, an eCommerce solutions provider for logistics for a cumulative purchase consideration of approximately SG$ 2.10 million ($1.3 million).

The company spokesperson, Mr Biju Nair, said that the entire process of acquisition would take about 6-9 months and help us tap the business in the Asia-Pacific region and expand the product offerings."

Both these companies are part of SkyWest, the holding company. While Comex Frontier is an 11-year-old company, having 56 customers in the freight forwarding and logistics industry, with a strong presence in the Asia-Pacific region, MY Comex is a five-year-old service provider, having six customers in the freight forwarding industry. Four Soft last year acquired a Dutch company CargoMate and entered the European market leveraging its clients.

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