Dhanus acquires Sreeven Infocom

HYDERABAD, INDIA: Telecommunications company Dhanus Technologies Ltd has acquired a majority equity stake in Hyderabad-based Sreeven Infocom Pvt. Ltd, an IT and ITeS service provider.

Dhanus Technologies has taken a 60 per cent stake in Sreeven Infocom through an additional capital infusion into this company.

Dhanus said in a release that the acquisition is in accordance with the company's plans to expand into e-governance space and strengthen telematics services and BPO service offerings in India.

Dhanus Technologies, vice chairman, S Muthukrishnan, said, "With this strategic investment, we expect to target these organizations and plan to expand into the e-governance sector and support Fleetrac systems. We expect to increase Sreeven's revenue to Rs 60 crore by the end of the fiscal 2009-10."

Post acquisition, there will be no change in the functioning of Sreeven Infocom and the name of the company would also be retained.