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Mumbai, Jan. 10

IT People (India) Ltd has acquired the business of Bangalore-based telecom and networking solutions firm Cyberwerx Software Solutions, in order to strengthen its presence in the telecom vertical. Cyberwerx offers customers turnkey product development strategies and seamless team augmentation in the telecom space. Mr Ketan Sheth, Chairman, IT People, told Business Line that the acquisition will give the company a direct access to some of the top telecom c lients. However, the monetary details of the deal were not made available. As part of the deal, IT People will be transferred the ownership, existing business contracts and related assets including employees. The IT People scrip was down by 4.97 per cent to close at Rs 46.85 on the BSE. —

Our Bureau

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