Calsoft buys 51% stake in Aspire

New Delhi, May 22 (UNI) California Software Company Ltd (Calsoft) today said it has acquired 51 per cent equity in Aspire Communication Pvt Ltd (Aspire), India and its US subsidiary AspireSoft Corporation.

''The acquisition will help Calsoft augment its product engineering services. With the hardware design expertise that Aspire Communications brings, we can now provide end-to-end solutions in the outsourced product development (OPD) space,'' CAlsoft Managing Director and CEO Sam Santhosh said.

A memorandum of understanding has been signed to this effect, culminating into a final share purchase agreement, a statement said.

Aspire is expected to add about three million dollars in revenue and 4,00,000 dollars in net profit to the Calsoft Group on a consolidated basis in 2007-08.

UNI