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13-May2019

California Software to acquire 55% stake in Menakart

California Software Company has executed a memorandum of understanding (MoU) and necessary agreements with Menakart General Trading LLC, UAE (Menakart) for the acquisition of 55% of the all of the issued and outstanding common shares on fully diluted bases, whereby the Menakart shall become a subsidiary of California Software Company.

Both California Software Company and Menakart are engaged in a basic and preliminary discussion and negotiations wherein the California Software Company is willing to enter into a Share Purchase Agreement (SPA) with Menakart, subject to compliance with the applicable laws and SPA to be executed between the Parties going forward in relation to the Proposed Transaction. This acquisition is expected to close in the third quarter of 2019.

California Software Company is a global Product Engineering and Enterprise Solutions company with a strong background in development and implementation.


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