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Bijoy Ghosh

Total control: Mr S. Santhosh (left), Managing Director and CEO, Calsoft, and Mr Vedante Srihari, CEO and Founder, Inatech, at a press conference in Chennai on Monday. —

Our Bureau

Chennai, Dec. 17 California Software Company Ltd has acquired 49 per cent minority shareholding in Inatech Infosolutions for $6.17 million (Rs 25 crore). It had already acquired 51 per cent stake for Rs 15 crore in November 2006.

Inatech now becomes a 100 per cent subsidiary of Calsoft, a Chennai-based IT company that employs around 1,000 people in India, the US, Singapore, Tokyo and Egypt.

The UK-based Inatech specialises in providing Oracle solutions to clients such as APL, Cisco and Johnson&Johnson. With 157 employees in London and in offshore development centre in India, it reported consolidated revenues of Rs 30.54 crore with a net profit of Rs 3.6 crore for the half year ended September 30, 2007, Mr Vedante Srihari, CEO and founder, Inatech, told newspersons.

Inatech is the fourth acquisition that Calsoft had made in the last two years. Out of the $50-million revenue, around 35 per cent came from acquired companies, according to Mr Sam Santhosh, Managing Director and CEO.

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