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Paul Noronha

Joining hands: (from left) Mr Atul Hemani, Managing Director, Omnitech InfoSolution Ltd; Mr Maganlal K. Hemani, Chairman, Omnitech InfoSolution Ltd; and Mr Ryozo Imai, President, Sanwell Co. Ltd, at a press conference in Mumbai on Monday. —

Our Bureau

Mumbai, Sept 17

The city-based Omnitech Infosolutions Ltd has formed a joint venture with the Japanese software service provider Sanwell Company Ltd with a total investment of 100 million yen (Rs 352 crore). Christened as Arham Technologies Company Ltd, the proposed joint venture will provide IT consultancy, software development for embedded systems, infrastructure management services and performance management services for the Japanese market. Omnitech TSB Ltd, the newly formed Japan-based subsidiary of Omnitech will hold 60 per cent stake while Sanwell Company will have 40 per cent stake in the new company.

Arham Technologies is starting with about 35 people; the company intends to deploy about 150 people onsite Japan by the end of the current year, said Mr Atul Hemani, Managing Director, Omnitech Infosolutions.

Omnitech expects the initiative to help spreading its network in Japan. “We envisage that revenues from the joint venture will contribute to about 20 per cent of Omnitech`s total revenues in the next two to five years,” said Mr Hemani.

Reacting to the development, the Omnitech Infosolutions scrip was up by 5.9 per cent to close at Rs 167.8 on the BSE on Monday.

More Stories on : Alliances & Joint Ventures | Software

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