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| Exchange Received Time 14/11/2017 18:57:45 Exchange Disseminated Time 14/11/2017 18:57:52 Time Taken 00:00:07 | | Calsoft board Approved the signed Memorandum of Understanding (MoU) to acquire a majority stake in Singapore based Cordite PTE Ltd which owns Infinia Services and Solutions DMCC (Infinia, www.infiniasns.com) providing E commerce IT solutions. This acquisition makes Calsoft as global leadership in the space of loyalty management and digital solutions. Consideration for the acquisition might be in cash, share or combination of both and thereby making Infinia as Calsoft's subsidiary. This acquisition is subject to satisfactory completion of due diligence, reference checks, internal approvals and all regulators. Currently Infinia operates in over 35 countries including Middle East, Africa, South Asia and South-East Asia regions. Infina's has consolidated revenue of 15 million USD as on 31 Dec 2016. |
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