MUMBAI: Mindteck shares rose nearly 5 per cent after the software firm acquired US-based Infotech Consulting for $21 million.
At 10:48 am, Mindteck shares was up 4.45 per cent at Rs 61 after rising to a high of Rs 64 in trade so far.
Infotech Consulting, the first in a series of acquisitions will boost Mindteck’s combined revenue to more than $75 million in 2007-08.
Infotech Consulting, with estimated revenue of $31 million as of December 31, 2007, employs over 250 people in the US.
It has a large commercial and governmental customer base and significant expertise in Business Application Consulting (BAC), and Security Infrastructure and Managed Services (SIM), a Mindteck release said.
Mindteck currently generates the majority of its revenue in the US, and the Infotech acquisition promises to further solidify its market position.
On a stand-alone basis, March 2008, consolidated revenue of Mindteck and its four acquisitions is estimated to be over $75 million.
At 10:48 am, Mindteck shares was up 4.45 per cent at Rs 61 after rising to a high of Rs 64 in trade so far.
Infotech Consulting, the first in a series of acquisitions will boost Mindteck’s combined revenue to more than $75 million in 2007-08.
Infotech Consulting, with estimated revenue of $31 million as of December 31, 2007, employs over 250 people in the US.
It has a large commercial and governmental customer base and significant expertise in Business Application Consulting (BAC), and Security Infrastructure and Managed Services (SIM), a Mindteck release said.
Mindteck currently generates the majority of its revenue in the US, and the Infotech acquisition promises to further solidify its market position.
On a stand-alone basis, March 2008, consolidated revenue of Mindteck and its four acquisitions is estimated to be over $75 million.
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