Technology

DCS raises $19.4m from Transport & Logistics sale

Automotive software and services company DCS Group plc has continued to shrink its operations with the cash sale for GBP10.5m ($19.4m) of its Transport & Logistics division to Four Soft BV, a subsidiary of Hyderabad, India-based Four Soft Ltd. The cash will be used to reduce external bank debt.

Staff Writer September 5, 2005

It has also reached an agreement with Barclays Bank Plc to convert GBP2.5m ($4.6m) of current debt into DCS ordinary shares which will leave Barclays owning approximately 19% of the company.

Following the latest disposal, DCS Group’s continuing operations will be its automotive division, which technologies and services for automotive dealers.

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