Chennai-based California Software Company has taken 50 per cent equity stake in the Kochi-based computer hardware company Team Frontline Ltd.
An MoU in this regard was signed on Friday by the two companies. Announcing the partnership, Calsoft managing director S Santosh said this 'strategic' investment will not only facilitate the Enterprise division of Calsoft to provide its customers a total solution, but also give it an initial operating base in Kerala.
The Middle East market of Calsoft was also growing very fast, which can henceforth be catered from Kerala, he said.
TFL managing director S R Nair said Calsoft's participation would provide his company with the vital financial boost, management support and a global reach for its products and services.
Refusing to accept that it was a 'sellout', Nair described it as a 'strategic partnership'. Being small does not help. The company, with an authorised capital of Rs 50 lakh, was so far confined to Kerala, and the parternship would allow it to spread its wings, he added.
