California Software: Will deal revive fortunes?

The board of California Software on Tuesday approved a deal to acquire majority stake in Singapore-based Cordite PTE Ltd, which owns Infinia Services and Solutions. The deal will make Calsoft a global leader in loyalty management and digital solutions, it said. The acquisition might be in cash, share or a combination of both. It will result in Infinia becoming Calsoft’s subsidiary. This acquisition is subject to completion of due diligence, internal approvals and regulatory clearances.