Bangalore June 17

Treading its business philosophy of `acquire, enhance and expand,' Cranes Software International Ltd is close to buying out the Bangalore-based anti-virus software maker Proland Software.

Sources confirmed that Cranes was in advanced stages of talks with Proland Software for a complete buy-out. The board of Cranes is expected to meet this week to consider the acquisition.

Tracking the acquisition buzz, shares of Cranes have gained over 17 per cent in the past one month. In fact, shares of Cranes hit a 52-week high at Rs 139.50 on June 7.

Anti-virus offerings

The proprietary firm Proland Software has been in the business of designing, developing and supporting anti-virus software products for over 15 years. While the exact revenues of Proland were not known, it is estimated to be around a couple of crore rupees.

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