Softpro Systems buys CURA

Softpro Systems buys CURA
PTI
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First Published: Sat, Aug 01 2009. 01 31 PM IST
Updated: Sat, Aug 01 2009. 01 31 PM IST
Hyderabad: Softpro Systems, an ERM business solutions provider, on Saturday said it has acquired 100% stake in Cura Risk Management Software Proprietary Ltd (CURA) after a definitive agreement with shareholders.
The payment of purchase consideration for acquiring CURA, South Africa was made on 30 July to its outgoing shareholders, thereby taking over its management, a Softpro release said without revealing the size of the deal.
CURA, South Africa, is a leading provider of integrated software solutions addressing the Governance Risk & Compliance (GRC) requirements globally, having offices in South Africa, USA, UK, Australia and operates through exclusive distributors in 16 countries in Asia and South America.
With subsidiaries in UK and Australia, CURA has global sales revenues of around $7 million, expecting to touch $12 million this year.
“With acquisition of CURA, Softpro will enter into the Governance, Risk & Compliance (GRC) industry which is quite nascent in global markets including India.
“We will thus become one of the first movers in GRC domain in India as there are not many players in this GRC space and it is going to be very big in coming years,” SoftPro Systems chairman & managing director G Bala Reddy said in the release.
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First Published: Sat, Aug 01 2009. 01 31 PM IST