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Chennai, Nov. 13

California Software Company Ltd (Calsoft) has signed a Letter Of Intent to acquire 100 per cent equity stake in the US-based International Innovations Inc, a technology consulting company specialising in information management solutions. Innovations’ valuation will be $1.32 million (about Rs 5.3 crore). The deal envisages phased payments over a period of one year from the conclusion of a definitive share purchase agreement and based on certain performance parameters, according to a Calsoft press release. —

Our Bureau

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