Monday, June 15, 2009

SoftPro acquires 100 pc of Cura

SoftPro Systems Limited, having a market cap of Rs 140 crore, has acquired 100 per cent of Cura Risk Management Software Limited, South Africa (Cura), for a structured consideration of 19 million US dollar in an all-cash deal.

By acquiring Cura, Softpro has established a strong foundation on which it plans to build a leadership position in this field and its revenues will grow six fold to over Rs 60 crore by March 2010, a company release here today said.

"More importantly, this will also establish Softpro as a global leader in the GRC (Governance, Risk and Compliance) space," the release said.

The GRC sector is where ERP was 15 years back and is poised to be one of the major growth sectors in the IT space. The recent global depression and revelations of corporate missteps have heightened the need for oversight of GRC functions.

These developments are giving a fillip to this segment like never before. Softpro would have the early mover advantage to leverage these opportunities, the release added.

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