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September 25, 2008

Infotech allocates INR3 billion for acquisitions

India-based geospatial and engineering services provider Infotech has allocated INR3 billion for acquisitions in the current fiscal year ending March 2009, said Mohan Reddy, the company's chairman and managing director.

By CBR Staff Writer

The company has said that it plans to acquire three companies. Currently, the company is conducting due diligence to purchase a European firm in the auto engineering segment. According to Reuters, in the coming quarter the company will buy two more firms.

Recently, the company acquired Time To Market, a California-based design service provider. Reuters has quoted Mr Reddy as saying: Our acquisitions will be targeted around $20 million.

The company has also inaugurated a new 600-seater facility in Noida, India. The new facility will focus on developing software, IT-enabled services and mapping geographical bases business. As part of its expansion plans, the company is also looking at making a foray into tier-II Indian cities.

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