MosChip Technologies Limited (BSE:532407) agreed to acquire Softnautics Inc. for $17.3 million on March 28, 2023. MosChip will acquire Softnautics for $17.25 million to be paid 52.6% in shares and 47.4% in cash. The acquisition is expected to be EBIDTA accretive and generate free cash flow starting from very first year.

The acquisition will be completed during next quarter. Softnautics has offices in California and India (Pune and Ahmadabad). The transaction is subject to approval from shareholders of MosChip.