Four Soft Ltd. (4S) and TAKE Solutions, providers of IT products and solutions in the Supply Chain Management have announced their intent to merge.
The combination will create a global, comprehensive company with one of the largest product offerings in Supply Chain Management.
Both companies have received in principle approval from their Board of Directors to consider the merger. Both Boards will appoint independent firms of Chartered Accountants and financial advisors to reach a fair valuation for the shareholders of both the companies.
The Boards of the two Companies expect to meet within 6 to 8 weeks to consider the reports of the advisors. The merger, if approved by both the Boards, will be subject to shareholders' approval of both companies and other regulatory approvals.
Mr. Palem Srikanth Reddy, Chairman & CEO, Four Soft Ltd said,
Four Soft has full service products/offerings on the service provider segments. Take Solutions product offerings complement this very well on the enterprise side. The combined range of Intellectual Property is unmatched globally and will enable both, good customer traction and good shareholder value
Commenting on the proposed merger, Mr. Srinivasan.H.R, Vice Chairman & Vision Holder, Take Solutions Ltd, said,
The coming together of two leading first generation IT companies with similar philosophies and vision will create a significant Intellectual Property company based out of India with worldwide operations.
Four Soft Ltd. is a perfect foil to TAKE Solutions. Our strong presence in the US and Asia Pacific complements Four Softs dominance in Europe and Japan.
The proposed merger of the two companies will leverage Indian innovation and a strong partnering philosophy to become a truly global company in size and capability in the coming years.
For customers, the newly expanded entity will seek to deliver the most effective and extensive products and solutions through superior speed, technology and innovation.
About TAKE Solutions
TAKE Solutions is a leading international business technology company with products backed by a strong domain expertise in Life Sciences and Supply Chain Management - to provide cost-effective, comprehensive solutions for businesses. The vision of the company is to drive industry best practices through our proprietary, in-depth product know-how and solutions that enable business efficiencies for clients. Since its inception in 2000, TAKE has been serving marquee clients in the Life Sciences and SCM arena. TAKE Solutions conducts business today in 12 countries with more than 300 customers.
Headquartered in Chennai, TAKE primarily drives its SCM Domain Excellence Centre and Global Delivery Centre from India. Company has strong presence in the USA with Life Sciences Domain Excellence centers located in Princeton, New Jersey.
TAKE Solutions is assessed at Level 5 of the Capability Maturity Model Integration (CMMI), Software Engineering Institute, Carnegie Mellon University, USA. TAKE Solutions is a Microsoft Gold Certified Partner, a Charter Member of the Microsoft BioIT Alliance, and is a Registered CDISC Solution Provider.
About Four Soft Limited
Four Soft is an enterprise solutions company providing innovative software products, exclusively for the freight, transportation, logistics and supply-chain management industry. 4S also offers IT consultancy and IT enabled services. 4S is the market leader in the transportation and logistics segment with a large international client base including the majority of the top transportation and logistics companies in the world, including Eagle Global Logistics (now CEVA Logistics), DHL, Schenker, PWC Logistics, Yusen, Panasonic Logistics and UTi. It has regional offices and software development centers located worldwide, with main development centre in HITEC city of Hyderabad, India.
Four Soft offers a full suite of web-based products across the logistics supply chain. This includes 4S eTrans for Freight Forwarding and Logistics, 4S ePOMS & 4S VisiLog for Track & Trace, Visibility,and Supply Chain Management, 4S eLog for Warehouse Management Systems, 4S eCustoms to cover Customs Brokerage, 4S iShipping for Shipping Line execution and 4S eConnect for Business to Business Connectivity.
Four Soft is listed on the National Stock Exchange and Bombay Stock Exchange