In consideration of the direction of long-term development, and to consolidate resources, increase economies of scale and improve Company's competitiveness, the Company, has executed a MOU and necessary agreements with Infinia Solutions and Services PTE Limited, Singapore (Previously known as Cordite PTE Limited) for the acquisition of 60% of the all of the issued and outstanding common shares on fully diluted bases, whereby Infinia shall become a subsidiary of Calsoft.
Based on that, Calsoft called for the EGM on 23rd December 2017 to consider and if thought fit, to pass with or without modification(s), for the acquisition of Infinia. The shareholders of the Company had approved at EGM the proposal.
This acquisition is expected to close in the first quarter of 2018.
Shares of CALIFORNIA SOFTWARE CO.LTD. was last trading in BSE at Rs.70.95 as compared to the previous close of Rs. 74.65. The total number of shares traded during the day was 9492 in over 36 trades.
The stock hit an intraday high of Rs. 70.95 and intraday low of 70.95. The net turnover during the day was Rs. 673457.