US-based enterprise software frim Selectica Inc has sold its Indian subsidiary to a US private equity firm for $4 million. DAX Partners LP, an entity affiliated with Trinity Management LLC, a New York-based investment fund, has bought Selectica India Pvt. Ltd.
Nasdaq-listed Selectica is an enterprise software firm which focuses on accelerating product lifecycle management, order configuration and contract management.
The legal formalities will be completed by May 31.
“This divestiture of our Indian subsidiary is another step forward in our ongoing efforts to refine the Company’s focus and advance our business model. We continue in our efforts to improve our operational performance, enhance our product offerings and deepen our customer relationships,” said Brenda Zawatski, co-Chair of Selectica.
Trinity plans to make infrastructure and other investments in India. More details on Trinity Management LLC or DAX Partners LP were not available.
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