Infotech earmarks Rs.3 bn for acquisitions

September 22nd, 2008 - 7:22 pm ICT by IANS  

Noida, Sep 22 (IANS) Infotech Enterprises Ltd, a global information technology consulting firm, has earmarked Rs.3 billion for new acquisitions in the current year, a top company official said here Monday.”We will close two major deals this year, one is the acquisition of Time to Market, based in Santa Clara, California. The deal will be closed by September 30,” said Infotech chairman and managing director B.V.R. Mohan Reddy.

The US company is a leading provider of embedded software to clients in the networking, communications, consumer electronics and semiconductor industries.

“The second acquisition is of an auto engineering company in Europe which will be closed by the end of this year,” Reddy added.

However, he refused to divulge any further detail.

The company on Monday inaugurated its 600 seater facility in Noida which will be engaged in Software development, IT-enabled services and mapping geographical bases business.

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