Spanco acquires Great IT - CIOL News Reports

Spanco acquires Great IT

Plans to generate revenue of $200 million in six-seven years

Tuesday, February 12, 2008

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NEW DELHI, INDIA: Spanco Private Ltd, a subsidiary of Spanco Telesystems & Solutions Ltd, provider of telecom integration and back office services in India, has announced the acquisition of Great IT Private Ltd.

Great IT owns rights to provide complete technology and IT infrastructure to Great Wheel Corporation.

Kapil Puri, chairman, Spanco Telesystems & Solutions Ltd, said, "This acquisition will give us access to more than 10 countries through its presence in providing and supporting 16 Wheels, which Great Wheel corporation will set up in the next five years."

Spanco expects to generate revenues of more than $200 million in the next six to seven years besides indirect revenues. Spanco will invest around $40 million in the next two years. Great Wheel plans to set up first such wheel in Delhi against the backdrop of the Commonwealth Games in 2010.

©CyberMedia News

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