Four Soft looking to acquire computer peripherals and mobile accessories e-tailer Deals15.com
Four Soft Ltd, a software solutions provider for transportation and logistics industry, is looking to acquire Deals15.com, a computer peripherals and mobile accessories e-tailer, from Hyderabad-based Premium Web Services Pvt Ltd, the company said in a BSE filing.
Deals15 provides laptop peripherals, HDMI cables, Apple and Samsung accessories, TV and set-top box remote control devices, with an in-house warranty, as well as a return and refund policy.
Four Soft board is meeting on January 8, to consider the proposal for the acquisition. Four Soft, which is in the process of changing its name to Paired Technologies Ltd, has also announced that it is considering a proposal to merge its subsidiaries Paired Media and Entertainment Pvt Ltd and Pal Premium Online Media Pvt Ltd with the parent company.
Update: The company's board has approved the acquisition of Deals15.com besides the intra group merger.
Headquartered in Hyderabad, Four Soft is promoted by politician-cum-businessman Palem Srikanth Reddy. The firm offers solutions in the areas of freight forwarding industry, customs brokerage, contract logistics, shipper logistics and services. It is backed by Kotak PE and former ChrysCap chief Ashish Dhawan.
Four Soft recently sold its core IT business to UK-based Kewill Group for $43.4 million including some overseas arms. The divestment included the sale of its software solutions business valued at $22.5 million and the shares of related subsidiaries for $20.9 million.