Four Soft acquires Demark-based Transaxiom

New Delhi, Dec 20 (UNI) Four Soft Ltd today said it has entered into an agreement to fully acquire Denmark-based Transaxiom Holding A/S, a global provider of transportation and logistics solutions for 10 million dollar.

With this merger, the company has consolidated its position within transportation and logistics industry, adding a number of strategic players to its current customer base, a statement said.

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.

''Acquisition of Transaxiom is an integral part of company's value strategy of market consolidation and will provide strategic selling opportunities,'' company's COO Kal Gangavarapu said.

Now customers will derive greater returns from enhanced global footprint, from Australia to the US and business service integrated solutions, he added.

The cash-and-stock deal between the two companies will witness the payouts happening over the next three years based on performance.

The definitive agreement has been signed between the two companies and integration will start from January next year.

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