Infotech takes majority stake in Geospace Integra
May 15, 2007 - 11:13:51 PM
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The geo-spatial market in India and the Middle East is estimated at Rs.10 billion and is expected to see a 12 percent growth over the next five years.
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By IANS,
[RxPG] Hyderabad, May 15 - Global IT service firm Infotech Enterprises Limited Tuesday announced that it has taken a majority stake in Hyderabad-based Geospatial Integrated Solutions Pvt Limited - to explore geo-spatial business opportunities in India and the Middle East.
Under the agreement, Infotech and Geospace Integra will consolidate their geo-spatial business in India and the Middle East into a single entity led by Chandrasekhar Nori, who has over 25 years of experience in remote sensing and mapping industry in India, said a company statement.
The new entity will operate as a subsidiary of Infotech Enterprises.
'By leveraging the knowledge and experience of Geospace Integra, supported by Chandrasekhar Nori's leadership, we have a compelling value proposition for customers in these markets. We expect to achieve Rs.100 crore - revenue in the next three years from our India and Middle East business,' said B.V.R. Mohan Reddy, Infotech's chairman and managing director.
The geo-spatial market in India and the Middle East is estimated at Rs.10 billion and is expected to see a 12 percent growth over the next five years.
Infotech is a world leader in geo-spatial services, particularly for the telecom, utilities and government markets in North America, Europe and Australia. It also enjoys a significant presence in the telecom and utility segments in India.
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