Calsoft inks pact to buy stake in Singapore firm

Our Bureau Chennai | Updated on January 09, 2018 Published on November 15, 2017

City-based California Software has signed a memorandum of understanding to buy majority stake in Singapore-based Cordite PTE Ltd, which owns Infinia Services and Solutions providing e-commerce IT solutions. This will help Calsoft become a major loyalty management and digital solutions provider.

Deal size was not disclosed.

Infinia, which will become Calsoft’s subsidiary, operates in over 37 geographies, including Dubai, Doha, Lagos, Nairobi, Mumbai, Delhi, Colombo, Jakarta and Singapore, providing customer loyalty management solutions for financial institutions, retailers, telecom providers and other industry vertical, says a Calsoft release.

It manages over 40 clients across various segments of customer engagement solutions, with over 25 million customers and redemption points worth more than $1 billion.

Calsoft will support Infinia with a complete software solutions platform, analytics, predictive analytics, blockchain technology, payments technology and its global market reach across in US and India, the release said.

On the Bombay Stock Exchange, Calsoft’s share priced closed at ₹53.05, up by ₹2.50 (+4.95 per cent).

Published on November 15, 2017
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