Financial Daily from THE HINDU group of publications
Thursday, Apr 06, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 06, 2006 |
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Info-Tech
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Mergers & Acquisitions Sasken Comm acquires iSoftTech for Rs 6.5 cr Our Bureau
CONSOLIDATING DOMAIN:Mr Rajiv C. Mody (left), Chairman and CEO, Sasken Communication, and Mr V. Vijay Babu, President, ISoftTech, in Chennai on Wednesday - Bijoy Ghosh
Chennai , April 5 Sasken Communication Technologies Ltd has acquired the Chennai-based Integrated SoftTech Solutions (iSoftTech) for Rs 6.5 crore. iSoftTech was founded in 2001 by Dr Raymond Stata and Dr Ashok Jhunjhunwala. Mr Rajiv Mody, Chairman and CEO of Sasken, telecom research and development outsourcing company, told newspersons that iSoftTech's 110 employees will be integrated with Sasken, which would add a Chennai development centre to its existing facilities in Bangalore and Pune. iSoftTech will operate as a Sasken subsidiary in Chennai. Mr Vijay Babu, Co-founder, Executive Director, President and COO of iSoftTech, will be head of the Chennai centre, said Mr Mody. iSoftTech focuses on providing embedded and enterprise solutions for customers in the VoIP, WLAN, and networking markets, along with a set of product lifecycle support services for data networks customers.
Related Stories: More Stories on : Mergers & Acquisitions | Software
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