4S buys FWL's freight, shipping software business

MUMBAI: Four Soft Limited (4S), a software solutions provider for transportation and logistics vertical, has entered into an agreement to acquire the assets of the freight and shipping software business of FWL Technologies, UK, through it wholly owned subsidiary Four Soft UK Ltd.

Under the terms of the agreement, which was approved by the companies' boards of directors, the cumulative purchase consideration will be approximately Rs 10-12 crore based on certain performance parameters in an all cash transaction. The acquisition of business includes IP, staff, customer contracts and business assets.

With this acquisition, 4S expands into the shipping liner software business while further consolidating its coverage in the transportation and logistics vertical. It adds strong domain and technology teams based out of UK, India, Singapore and USA to Four Soft’s current operations. The customer base will expand significantly to add shipping liner customers and take the employee strength to over 900.

Dr Kal Gangavarapu, COO at 4S explained “In line with our domain centric strategy, this acquisition helps us further consolidate our leadership position in the transportation and logistics domain. This expansion enables us to offer a greater depth of domain and technology experience and expertise, which can only be good news for clients.”

On the acquisition, Dave Pickburn, VP (UK and Scandinavia) said, “4S has been the pioneer in bringing next generation technologies and products to the global logistics markets over the last few years. FWL’s established shipping liner and freight forwarding clients will now have access to Four Soft’s proven global delivery capability and wide range of offerings”

Paul Griffin, the outgoing-CEO of FWL Technologies commented, “existing FWL clients get benefited by the global reach and new generation technologies of Four Soft”

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