Business Daily from THE HINDU group of publications
Friday, Jan 25, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 25, 2008 ePaper | Mobile/PDA Version |
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Info-Tech
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Mergers & Acquisitions Rolta agrees to buy Broech of US for Rs 180 cr Our Bureau Mumbai, Jan. 24 Rolta India has agreed to acquire the US-based IT consulting firm Broech Corp for $45 million (Rs 180 crore). The acquisition of Broech, which does Oracle consulting business as ‘TUSC’, is expected to give Rolta a strong portfolio of products and customers and provide it with improved access to complementary markets and industry service lines. TUSC’s offerings are focused towards mission-critical applications, providing significant opportunities to the Rolta customer base, said a release from Rolta. The company expects this inorganic move to be immediately accretive to shareholder value. Headquartered in Chicago, TUSC has served over 2,000 customers in diverse sectors such as utilities, energy, engineering, manufacturing, transportation and others. TUSC is a profitable company and its 2007 revenues were in excess of $48 million, with a CAGR of more than 30 per cent over the past four years. Complementary marketsRolta has said that it will continue taking over companies that provide a synergetic mix of technology and IPR, enabling it to address complementary markets. This is the second acquisition by Rolta in a span of six months. In July last year, Rolta had acquired the Canadian software firm Orion Technology, for an undisclosed amount. More Stories on : Mergers & Acquisitions | Off-shore Development | Software
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