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MoneyWorks4Me

California Software gets nod to acquire majority stake in Solutions MiddleEast DMCC

03 May 2018 Evaluate

California Software Company (Calsoft) has received an approval for signing of  Memorandum of Understanding (MoU) to acquire a majority stake in UAE based Solutions MiddleEast DMCC (SME), established in 1996 and providing Virtualization, Mobility, Networking for Datacenter, Networking for Apps and Mobile Security in the Middle East and Asia region including GCC countries like UAE, Qatar, Oman, Saudi Arabia, Africa and India. The Board of the company at its meeting held on May 02, 2018, approved the same.

This acquisition makes Calsoft as global leadership in the space of software development, digital and security solutions. Consideration for the acquisition might be in cash or share or combination of both and thereby making SME as Calsoft’s subsidiary.

California Software Company is a global Product Engineering and Enterprise Solutions company with a strong background in development and implementation.

Peers
Company Name CMP
TCS 2480.50
Infosys 1143.45
HCL Technologies 1411.50
Wipro 190.05
Tech Mahindra 1770.50
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