Bangalore, Aug. 7
Sobha Renaissance Information Technology (SRIT) announced the completion of its acquisition of Objective Systems Integrators (OSI) from Agilent Technologies, including transfer of about 120 Agilent staff in offices in the US, Taiwan, Thailand, Malaysia, Singapore, France, Spain, Australia, New Zealand, Canada and India.
This is the second acquisition by SRIT in telecom in a year, the previous being German business support systems firm Billing Components AG in mid-2006.
On April 11, SRIT had announced signing of a definitive agreement to acquire OSI and the NETeXPERT product suite from Agilent Technologies. OSI is now a wholly owned subsidiary of SRIT, developing integrated systems, requiring multi-protocol, cross-platform and cross-domain functionality, using its flagship product NETeXPERT. With the closure of this divestiture, SRIT now services over 150 telecom companies and service providers. As per the newbusiness plan, the company expects to grow its telecom revenue to $150 million by fiscal 2010-11.