The Hindu Business Line : Valuemart buys 51 pc in HVO

BANGALORE: Valuemart Info Technologies Ltd, formerly GDR Software Ltd, has acquired a 51 per cent stake in High Value Outsourcing (HVO) for an undisclosed sum.

Valuemart offers enterprise IT solutions, while HVO provides high value software outsourcing services on the Chief Technology Officer (CTO) space. The CTO space has traditionally been occupied by captive R&D centres of multinational companies in India.

With this acquisition, Valuemart will enter the niche high-end IT outsourcing space. HVO will help Valuemart extend sales reach in the global markets. Post-acquisition, HVO will be a subsidiary of Valuemart, said a release issued by the company.

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