4S takes over freight and shipping software business of FWL Tech

Hyderabad, Oct 23 (UNI) Four Soft Limited (4S), a software solutions provider for transportation and logistics vertical, has entered into an agreement to acquire the assets of the freight and shipping software business of FWL Technologies, UK through its wholly owned subsidiary Four Soft UK Ltd.

A company release said here, under the terms of the agreement, which was approved by the companies' Boards of Directors, the cumulative purchase consideration would be approximately Rs 10-12 crore based on certain performance parameters in all cash transaction. The acquisition of business includes IP, staff, customer contracts and business assets.

With the acquisition, 4S would expand into the shipping liner software business while further consolidating its coverage in the transportation and logistics vertical.

It would attract strong domain and technology teams based out of UK, India, Singapore and USA to Four Soft's current operations. The customer base would be expanded significantly to add shipping liner customers and take the employee strength to over 900, the release added.

UNI DB GKT 1815