Tech Venture

July 25, 2009 (LBO) - Sri Lanka's Aitken Spence had formed a company to develop hotel sector software, California Software Company Limited (Calsoft), a Bombay listed Indian information technology firm has said.
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The company will develop software targeting businesses operating in the hospitality industry at first.

The joint venture firm named 'CalSpence' will have its registered office in Colombo, Calsoft said in a stock exchange filing.

"The JV will position itself as an IT company with competencies in multiple areas and work towards developing solutions in niche domains," Calsoft said.

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"It will do this by leveraging on the IT strengths of Calsoft and on the domain expertise of Aitken Spence.

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Aitken Spence has units in leisure, power generation, travel and shipping. It operates hotels in Sri Lanka, Maldives, India and the Middle East.

It is also in shipping and is the only bidder in a race to get a concession to run a terminal in an expanding port in Sri Lanka's capital Colombo.

"We are optimistic of leveraging this partnership to reach across new markets in multiple geographies," the statement quoted Calsoft managing director Sam Santhosh as saying.

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