Four Soft consolidates leadership in Logistics solution market, acquires Transaxiom

Four Soft Ltd has announced that the Company has entered into an Agreement to acquire 100% of the Denmark based Transaxiom Holding A/S, a global provider of transportation and logistics solutions.

The transaction value would be approximately US$ 10 m in a cash-and-stock deal with the payouts happening over the next 3 years based on performance. The definitive agreement has been signed between the two companies, and integration will start from January 01, 2007. A joint team has been identified to work on various aspects of the integration process. Senior executives of both companies have reiterated their commitment and focus on executing this exercise seamlessly.

With this merger, the Company has consolidated its leadership position within Transportation and Logistics industry. The acquisition adds a number of strategic players in transportation and logistics to current customer base of the Company. In addition, the merger will augment the Company's current domain and technology competence and expand global presence in Scandinavia, Australia and Hong Kong markets.

Kal Gangavarapu, COO, of the Company said, "Acquisition of Transaxiom is an integral part of our value strategy of market consolidation and will provide 4S with strategic selling opportunities. Now our customers will derive greater returns from enhanced global footprint, from Australia to Americas, and business service integrated solutions."

Source : Equity Bulls

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