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Hyderabad, May 31, 2005 -- Four Soft Limited (4S) (NSE: "FOURSOFT" BSE: 532521), a leading provider of transportation, logistics and supply-chain process management software solutions to large enterprises, has entered into a Share Purchase Agreement (SPA) to acquire 100% shares of Comex Frontier Pte Ltd, a Singapore based Software solutions provider and MY Comex Sdn Bhd, a Malaysian eCommerce solutions provider for Logistics.
Four Soft acquires 2 overseas companies
Under the terms of the agreement, which was approved by the companies' boards of directors, the cumulative purchase consideration will be approximately SG$ 2.10 million.
Comex Frontier has over 8 years of experience and 80 customers in the Cargo transportation and Warehouse management industries, with a significant presence in the Asia Pacific region. Comex's comprehensive integrated solutions for warehouse management and transportation complement Four Soft's 100% internet based solutions for freight forwarding, logistics and supply chain management. This acquisition enables Four Soft consolidate its operations in Asia Pac through increased reach into new markets of Japan and China and also penetrate new verticals like distribution.
Speaking on the acquisition, Mr. Palem Srikanth, Managing Director, Four Soft Ltd. said, "The acquisition takes 4S a step closer to its long term objective of providing seamless enterprise solutions for the highly distributed Supply Chain Execution Domain. The synergy of similarity in technology, domain expertise and strong customer relationships combined with Four Soft's technological prowess and proven delivery capability ensures that the high quality solution reaches the customers in quick time" "4S is a global company and the acquisition ensures that the combined offering will reach a global market. The depth of functionality Comex provides complements excellently with the breadth that 4S has to offer and will open up new segments within the supply chain management vertical. The merger of these two operations will bring together the best technologies, products and processes which, we believe will have a strong win-win for our shareholders, customers, partners and employees" said Mr. Michael Yap, CEO Comex Frontier.
About Four Soft
4S is an enterprise solutions company, providing innovative software products, exclusively for transportation, logistics and supply-chain management market place and also offers IT consultancy services. It has its software development centre in HITEC city of Hyderabad, India with products developed on three-tier web architecture. The Company has large customers including EGL Global Logistics (US), Seko Worldwide (US), S-Net Freight (Singapore), W.T.Limited (UK), Frank-lin Distilleries (US) and Century Logistics Berhad (Malaysia). Additional information about Four Soft is available at www.four-soft.com.
Comex Frontier
Comex Frontier is the leading Supply Chain Execution solutions provider in Asia, providing solutions for Enterprises and Logistics Service Providers focusing on sourcing, demand management, order management, freight, warehousing, distribution and transportation. With their in-depth domain knowledge, Comex Frontier helps businesses optimise operations effectiveness, reduce costs and improve customer satisfaction through the integration and management of their supply chain execution processes. The company's customers include Panasonic Logistics Asia, JSI Shipping Singapore, Grocery Logistics of Singapore and UST Bangkok among others.
About MY Comex
MY Comex, an e-commerce solutions provider for logistics is a 5 year old company having 6 customers in the Freight forwarding Industry.
For further information contact:
Krishna RSR - +91 40 23100600
krishna.rsr@four-soft.com |
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