Hyderabad-based SoftPro acquires S African Cura Risk Management Software

16 June 2009

Hyderabad-based SoftPro Systems, a business solutions provider in the governance, risk and compliance (GRC) sector, has acquired 100-per cent stake in South African specialist software provider Cura Risk Management Software in a $19-million all-cash deal.

Cura, is an $8-million GRC software solutions provider.

SoftPro expects the deal to yield a six-fold growth to Rs60 crore this financial year. The company is targeting $200 million in revenues in the next five years.

As part of the deal, SoftPro will pay an upfront $16 million and the remaining amount over the next three years based on Cura's performance. The acquisition is likely to be fialised by the end of this month.

''The acquisition is our first step towards the turnaround of our fledgling company. We hope to become a $200-million company in the next five years,'' said G Bala Reddy, chairman and managing director, SoftPro.

GRC processes help in achieving high levels of business performance through reduced risks and uncertainty and through increased corporate governance.