Release Date: 20 December 2006
Release ID: 1200
Four Soft Limited consolidates leadership in Logistics solution market, acquires Transaxiom
• Valuation of approximately US$ 10 million
• Annualized revenue of current operations of Transaxiom is around US$ 8 million
• Consolidates Four Soft’s position in the transportation & logistics industry
• Strengthening of Scandinavian operations and expansion into Australia
Four Soft Limited (4S) (NSE: "FOURSOFT" BSE: 532521), a global leader in software solutions for transportation and logistics vertical, has entered into an Agreement to acquire 100% of the Denmark based Transaxiom Holding A/S, a global provider of transportation and logistics solutions.
The transaction value would be approximately US$ 10 m in a cash-and-stock deal with the payouts happening over the next 3 years based on performance. The definitive agreement has been signed between the two companies, and integration will start from 1st of January 2007. A joint team has been identified to work on various aspects of the integration process. Senior executives of both companies have reiterated their commitment and focus on executing this exercise seamlessly.
With this merger, Four Soft has consolidated its leadership position within Transportation and Logistics industry. The acquisition adds a number of strategic players in transportation and logistics to current customer base of 4S. In addition, the merger will augment 4S’s current domain and technology competence and expand global presence in Scandinavia, Australia and Hong Kong markets.
Kal Gangavarapu, COO, Four Soft Ltd said, “Acquisition of Transaxiom is an integral part of our value strategy of market consolidation and will provide 4S with strategic selling opportunities. Now our customers will derive greater returns from enhanced global footprint, from Australia to Americas, and business service integrated solutions.”
Joergen W Nielsen, Chairman, Transaxiom said, “The combined entity will have enhanced capability to deliver integrated products and specialized services globally. In addition, the acquisition is exceptional for the Logistics solution market as the consolidation will create a unique value proposition to the market and reduce the complexity and fragmentation of solutions used by the customers.”
© The Adora Group Limited 2016 - Publishers of Freightnet