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Sonata Software to acquire Australia's Scalable Data Systems

6 December, 2018 8:42 AM
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Sonata Software to acquire Australia's Scalable Data Systems

IT services firm Sonata Software on Thursday said it has signed a definitive agreement to acquire Australia's Scalable Data Systems for an enterprise value of up to Australian Dollar 5.5 million (approx Rs 28 crore) subject to adjustment on account of working capital and debt.

"The company, has entered into a definitive agreement...with Scalable Data Systems Pty Ltd and its shareholder to acquire 100 per cent stake in Scalable, an Australian company," Sonata Software said in a regulatory filing.

Sonata Software said Scalable Data Systems is a business solutions provider in the Australian market.

"Scalable Data Systems brings great value in terms of Microsoft Dynamics 365 capabilities and resources to Sonata," Sonata Software Managing Director and CEO Srikar Reddy said.

Also read: India's software service exports increased in 2017-18: RBI data

Source: moneycontrol.com

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