The Hindu Business Line : Gemini Comm buys Veeras Infotek

Networking and information technology company Gemini Communications has acquired majority stake in privately held security and availability solution provider Veeras Infotek for about Rs 7 crore. Veeras Infotek is a 125-employee strong, Rs 50 crore Chennai-based company with operations in virtualisation, collaboration, information security and business service management. It also has offices in Bangalore, Hyderabad and Coimbatore. The acquisition is expected to strengthen Gemini Communications' capabilities in offering business continuity solutions besides adding new clients, an announcement on the Bombay Stock Exchange said.

A guidance statement issued by Gemini Communications said, with the acquisition of Veeras, it would end the year with 50 per cent more profits than in 2007-08. Gemini Communications is currently servicing an order book of about Rs 250 crore and made profits of about Rs 28 crore last year. - Our Bureau

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