Four Soft gets nod for slump sale of its software solutions business to Kewill Group

13 Aug 2013

Four Soft has received an approval for slump sale of its software solutions business to the Kewill Group. The board of director at its meeting held on August 10, 2013 has approved for the same. The board also approved the sale of the company’s entire share holding in its relevant foreign subsidiaries. The transaction is subject to requisite approvals and satisfaction of certain conditions precedent. BMR Advisors acted as the exclusive financial advisors for the transaction. BMR Legal acted as the legal advisors to Four Soft.

The transaction for the business is valued at $22.5 million and the shares are valued at $20.9 million, making a total deal value of $43.4 million. This deal value is indicative of the synergy of the transaction and the inherent value of the business that the company has created over the last 13 years.

Besides, subject to the statutory approval and closing processes, including a shareholder approval via postal ballot, the transaction is expected to close within the next 90 days, post which Four Soft intends to utilize its expertise and best in class product development capabilities in non competitive industry areas, such as media and entertainment, ADM and QA and big data analytics.

Four Soft is a global leader offering software solutions for the logistics and transportation industry. It provides innovative and integrated enterprise solutions ensuring customer satisfaction. Four Soft software engineers are providing solutions to enterprises across the SCM market place.

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