Info-Drive Software has informed that as part of expansion initiatives in the ITeS and BPO space to expand the scope of operations the Company has entered into a Memorandum of Understanding with KM Wedding Events Management (KM India) popularly called Kalayana Malai. The company is majority owned by KM Wedding Events Management INC listed in OTC, USA. This MOU is fort 100 % acquisition through cash/share swap etc. The MOU enables Info-Drive to do due diligence and structure the transaction and enable to do various compliance and clearances that may be required.
The above information is a part of company’s filings submitted to BSE.