The Hindu Business Line : Kaashyap to decide on US co buy on Dec 14

Kaashyap Technologies Ltd’s board of directors will meet on December 14 to consider the proposal of acquisition of the US-based SAP centric/focus company which has a turnover over $25 million.

It had recently set up a hi-end SAP competency centre at Chennai focusing on SAP-related resource creation i.e. consultants, implementation tools, SAP remote hosting solutions and SAP-based projects implementation and products.The above acquisition would be part-funded by allotment of GDRs amounting to $16.5 million and also through the foreign currency convertible bonds (FCCBs) after obtaining approval from the RBI.

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