The MoU will culminate into a final share purchase agreement, subject to standard closing conditions and necessary approvals.
The entire process is expected to culminate by end of July 2007 and is envisaged to be a combination of cash and stock deal.
Mr S Santhosh, MD, of the Company, said ''The acquisition will help Calsoft augment its Product Engineering Services. With the Hardware Design expertise that Aspire Communications brings we can now provide end-to-end solutions in the Outsourced Product development (OPD) space.'' Aspire was founded in 2001 and has offices in Mysore, Bangalore, and San Jose.