SoftTech Engineers Limited has taken a significant step forward in its international expansion plans by transferring initial funds for the acquisition of a German entity. The company has purchased 50,000 no-par value shares, each with a nominal value of EUR 1.00, as part of this strategic move.

Acquisition Progress

This latest development follows a series of disclosures made by SoftTech Engineers regarding the acquisition:

• May 19: Initial announcement of the planned acquisition
• September 17: Update on the acquisition process
• September 23: Confirmation of initial fund transfer

Official Communication

In a filing to the National Stock Exchange of India Limited and BSE Limited, SoftTech Engineers stated:

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we would like to update on the acquisition with reference to our disclosure dated May 19 and September 17, with reference to acquisition of German entity, the initial amount has been transferred for 50,000 no-par value shares, having a nominal value of EUR 1.00 each."

Implications

This move signifies SoftTech Engineers' commitment to expanding its footprint in the European market. The acquisition of a German entity could potentially provide the company with:

1. Access to new markets and customers
2. Enhanced technological capabilities
3. Diversification of its business portfolio
4. Strengthened presence in the European tech sector

While the specific details of the German entity and the total acquisition cost remain undisclosed, this initial fund transfer marks a concrete step in SoftTech Engineers' international growth strategy.

Investors and market watchers will likely keep a close eye on further developments related to this acquisition, as it could have significant implications for SoftTech Engineers' future performance and market position.

The company has assured compliance with SEBI regulations by promptly disclosing this material development. As the acquisition process unfolds, more details are expected to emerge regarding the strategic fit and potential synergies between SoftTech Engineers and the German entity.

SoftTech Engineers Limited, a prominent player in the engineering software solutions sector, has made significant strategic moves to strengthen its market position and leadership team.

German Market Expansion

SoftTech Engineers has taken a bold step towards expanding its presence in the German market. The company's board has approved the acquisition of a complete stake in Softtech Digital AG, its German subsidiary, for a sum of up to €1.1 million. This move is part of the company's broader strategy to enhance its footprint in the European market, particularly in Germany.

Leadership Changes

SoftTech Engineers has announced key changes in its leadership team:

New CFO Appointment

The company has appointed Deepak Bang as its new Chief Financial Officer (CFO) with immediate effect.

Previous CFO's Departure

According to the latest LODR (Listing Obligations and Disclosure Requirements) filing, the company's previous CFO, Mr. Kamal Agrawal, has resigned from his position. The resignation will be effective from the close of business hours on September 16, 2025.

Details of CFO Transition

The LODR filing provides additional information about Mr. Agrawal's departure:

• Reason for Resignation: Mr. Agrawal has cited personal reasons for his resignation. The company has confirmed that there are no other material reasons for his departure.
• Effective Date: Mr. Agrawal will cease to be the Chief Financial Officer and Key Managerial Personnel of the company from September 16, 2025.
• Regulatory Compliance: In line with SEBI regulations, Mr. Agrawal will also cease to be the Key Managerial Personnel authorized for determining the materiality of events or information and for making disclosures to stock exchanges.

These developments mark a period of significant change for SoftTech Engineers, as the company positions itself for growth in international markets while also refreshing its executive leadership. The acquisition of Softtech Digital AG is expected to bolster the company's presence in Germany, while the appointment of Deepak Bang as the new CFO signals a transition in financial leadership.