French Company Accelya is set to acquire the controlling stake in Kale Consultants Ltd, with one or more of its promoters selling their stake.

The news comes in that if this deal happens then open offer is expected, taking the total value of the transaction to over Rs 100 crore. The promoters of Kale, Narendra Kale, Vipul Jain and their families, hold over 38% in the company.

Accelya is BPO service provider for airline industry. It provides services like airline Revenue Recovery services, PCI-DSS compliant card management, marketing and sales analysis, electronic invoicing and travel agent risk management. It is the largest IATA BSP (billing and settlement plan) Data Processing Center worldwide and powers IATA BSPLink.

Transaction Reference: ET

Kale Consultants provides solutions and services for airline, airports, logistics and the travel industry that includes data analytics, consulting, managed process outsourcing services, software products, platform solutions, customised technology and hosting services.

As of quarter ending June 2010, Kale Consultants' net profit declined 22.56% to Rs 5.15 Cr on 12.30% decline in net sales to Rs 33.51 Cr. Its share capital increased to Rs 138.15 Mn in FY10 from 133.62 Mn in FY09.

Gurgaon-based InterGlobe, the group that operates Indigo Airlines, and another European firm, whose name could not be ascertained, were also in talks to acquire a controlling stake in the company but the discussions fell through because they failed to reach an agreement on the price with the promoters.

Just before two days, Kale Consultants’s board approved the sale of its logistics business to Kale Logistics Solutions Pvt Ltd (KLSPL), as a going concern, on a slump sale basis which includes the sale, assignment and transfer of fixed and current assets, current liabilities, existing contracts, intellectual property rights and employees of the Logistics Business of the Company.

The logistics business contributed Rs. 37.60 million to the revenues of the Company (approximately 2.27% of the Company's consolidated revenues) and had a negative contribution of Rs. 62. 69 million at EBITDA level for FY10.

Recently in this month there have been many deals in technology space, Prism Informatics – a IT business consulting services provider buys 51% stake in a Saudi firm - Information Management Technologies Company Limited (IMT), BSE plans to pick up 51% stake in CAMS- a registrar and transfer agent, TCS acquires UK Backoffice Firm - Unisys Insurance

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