Sonata Software Announces Signing Definitive Agreement to Acquire Australia Headquartered Microsoft Dynamics 365 Partner, Scalable Data Systems, in Line With the Strategy to be a Global Leader
IT services firm Sonata Software Thursday said it has signed a definitive agreement to acquire Australia's Scalable Data Systems for an enterprise value of up to Australian Dollar 5.5 million (approx Rs 28 crore) subject to adjustment on account of working capital and debt.
"The company, has entered into a definitive agreement...with Scalable Data Systems Pty Ltd and its shareholder to acquire 100 per cent stake in Scalable, an Australian company," Sonata Software said in a regulatory filing.
Sonata Software said Scalable Data Systems is a business solutions provider in the Australian market.
"This will provide Sonata with additional intellectual property (IP), and geographical reach, along with a strong fillip to its strategy to be a global leader in the Microsoft Dynamics 365 partner ecosystem with core IPs across wide range of industries and a global footprint, specifically also making us a strong Dynamics partner in the Australian market," Reddy added.
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