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Kale Consultants divest its entire stake in Synetairos Technologies

04 Jul 2011 Evaluate

Kale Consultants has sold its entire investment of 49% in the equity share capital of Synetairos Technologies (Synetairos), a subsidiary of the company to a Chennai based Saksoft. After the said sale, Synetairos has ceased to be a subsidiary of the company. The sale of investment has been approved by the board of directors of the company.

The sale of shares is pursuant to the share purchase agreement entered into between Saksoft, Kale Consultants, Synetairos and Prakash Alkutkar, who held the remaining 51% equity in Synetairos, whereby Saksoft acquired 100% stake in Synetairos.

Recently, Kenya Airways had selected Kale Consultants’ Fare Management service as part of its commercial and pricing strategy process. Kenya Airways was an existing customer for Kale’s Outsourced Passenger Revenue Accounting on REVERA and the new service further strengthens its relationship with Kale Consultants.

Kale Consultants is a leading solutions provider to the global Airline, Logistics and Travel (ALT) industry. Committed to innovation and excellence, Kale delivers world-class software products, technology, managed process, hosting and consulting services. Kale employs over 1500 talented professionals who focus on delivering quality service to over 100 satisfied customers across 30 countries.

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