California Software clarifies on news item regarding China deal

With reference to the news item appearing in leading financial daily titled "Calsoft set to clinch China deal", California Software Company Ltd has clarified that this article which was based on an interaction by the newspaper with the Company's officials and covers various aspect of the Company's history, its financials and its growth, the rankings of the co in the Deloitte Fast 50 India List, all of which information are in the public domain already.

The Company had last year informed about the agreement signed with Macromedia Inc (now part of Adobe Inc) to license, distribute and integrate the Adobe Macromedia Flash Player Software Development Kit and Adobe Macromedia Flash Lite into embedded and handheld devices in many major markets. The review of the business done by the company in this specific alliance over the last year and expectations in this segment of business in China as an example, was one of the aspects of discussions held with the newspaper while they were interacting with Company officials.

Most of the information attributed to the Company official by the newspaper on China in this segment / product is information taken from sources in public domain or estimates and are not company specific. These relate to the facts on i-embedded devices and handheld devices to support rich content, applications and interfaces booming in that country and ii-the overall market size and addressable market size as $100mn-$200Mn is estimated by Adobe in China for integrating Flash in embedded systems. The part of the article where the newspaper has stated specific business revenues from china is referred to by them only in the context of business the Company stated it can reasonably except to target in this scenario of market prospects. The headlines and / or any emphasis given by the newspaper are not based on any material submitted by the Company.

Source : Equity Bulls

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