California Software Ltd (Calsoft), having major operations in the US and Chennai, has divested its entire 51% stake in education-based IT solutions company Informed Decisions Corporation (IDC) through the wholly-owned former's subsidiary CSWL for $36 million. US-based private equity firm, Higher One has bought Calsoft stake in the transaction, according to a release from Calsoft. Following this deal, the Indian IT company still remains the IT solutions partner to IDC through its offshore development platform in India, added the release. Sam Santosh, CEO of Calsoft group at US, said, “We plan to deploy the return from this sale to make similar investments.”
Source: Financial Express