Geometric to acquire 2 US firms

Geometric Software Solutions has signed an agreement with OnCourse Technologies Inc for acquiring two US-based companies, Teksoft Inc and Cimtronics Inc, for a total cash consideration of $1.75 million.

The transaction is subject to attainment of a number of conditions and is expected to be concluded by the second week of February 2005, Geometric Software informed the Bombay Stock Exchange.

As and when the acquisition happens, Geometric intends to acquire 100 per cent shareholding each of Teksoft Inc and Cimtronics Inc. Both companies are based in Arizona, USA.

For the quarter ended September 30, Geometric Software had a net profit of Rs 5.08 crore (Rs 50.8 million) on Rs 22.5 crore (Rs 225 million) net sales.

Till September 30, it had a reserve of Rs 86.81 crore (Rs 868.  million). The company's Q3 result will be announced on January 18.