Calsoft eyeing inorganic route

Chennai-based California Software Company (Calsoft), a product engineering and enterprise solutions company, is planning to take the inorganic growth route. The company has narrowed down two target companies in India and might acquire one or both of them by March 2009.

One of the companies majors in networking while the other deals in embedded space. The companies are valued at $3 million (Rs 14.4 crore) and $7 million (Rs 33.6 crore). The smaller company has 150 employees while the other has 400 employees.

If the deals are struck, Calsoft would possibly part fund the acquisitions through internal accruals and rest from stakeholders. “We are looking at expanding our presence in next generation networking and embedded systems. The acquisitions could help us do so. We would also be boosted by the presence of senior level employees from the acquired companies,” said Sam Santhosh, CEO and managing director, Calsoft.