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Our Bureau

Chennai , Dec. 20

THE Chennai-based California Software Company Ltd (CalSoft) has acquired WebSpectrum Software Pvt Ltd, a closely held Bangalore-based firm, for Rs 2.2 crore.

A few weeks ago , CalSoft also acquired a 51-per cent stake in the Kochi-based Team Frontline, a system integrator firm, for Rs 20 lakh, said Dr J.K. Nair, Chief Operation Officer. CalSoft has around 400 employees.

The acquisition would help CalSoft strengthen its technology solutions division, besides expanding operations in Bangalore.

CalSoft's technology division is to be merged with WebSpectrum that employs 35 people and is expected to have revenues of Rs 3 crore this fiscal year ending March 2005, Dr Nair told newspersons.

According to him , the acquisition would help CalSoft report revenues of Rs 12 crore for the current fiscal, up from Rs 8.5 crore last year. CalSoft plans to expand the Bangalore facility to accommodate over 100 engineers by 2005-end.

WebSpectrum focuses on network management systems and networking products. The company's customers include Nortel Networks and Symmetricom, said Mr Rathnakuamar Kayyar, Chief Executive Officer, WebSpectrum.

More Stories on : Mergers & Acquisitions | Software

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