Financial Daily from THE HINDU group of publications
Tuesday, Dec 16, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 16, 2003 |
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Info-Tech
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Mergers & Acquisitions Total picks up 40 pc in Syntax Our Bureau
BANGALORE: Total Outsource Inc, the Chicago-based IT outfit of the international supply chain company UCA Group, has picked up a 40 per cent stake in the Bangalore-based IT consulting firm, Syntax Soft-Tech. Mr P. Prashant, CEO, Syntax said, "Total Outsource has been working with us as a business partner and through this equity participation, we would be jointly targeting the services segment, which is a $556-billion industry. The collaboration is expected to generate revenues of over $10 million over a period of three years". Total Outsource had recently picked up a healthcare project worth $2.4 million and the same has been outsourced to Syntax in India for development.
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