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Infinite acquires Comnet International Company

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CIOL Bureau
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MUMBAI, INDIA: Infinite Computer Solutions (I) Pvt Ltd, a global IT solutions and services provider, has announced the acquisition of US-based Comnet International Company. The acquisition marks Infinite’s planned shift to telecommunications solution-centric segments as the major and key vertical focus area. The strategic investment will help Infinite augment its services for telecom and enterprise networks, service providers, device and appliance manufacturers and TME (Telecom, Media and Entertainment) enterprises.

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"We are now poised to become a major telecommunications player in the Indian IT field. This acquisition will bring exceptional value to all the stakeholders, customers as well as employees while providing new opportunities to Infinite. We are hopeful of uncovering larger opportunities and develop strategic relationships with leading telecommunications equipment and service providers globally. The acquisition also gives us entry into newer geographies,” said Neeraj Tewari, president, Infinite Computer Solutions.

Commenting on the acquisition, Upinder Zutshi, CEO, Infinite Computer Solutions, said, “Infinite will actively pursue the inorganic route as part of our global expansion plans and growth strategy. We are looking at more such acquisitions in the telecom sector to ensure that we become a global telecommunications service provider.” Earlier in March 2007, Infinite had set up a telecom competency center in Bangalore at its Whitefield campus.

Comnet recorded consolidated revenues of USD 9.4 mn in FY 07 and is expected to achieve revenue of USD 13 mn in FY 08. Comnet’s clientele include major telecom and networking players across USA, Europe and APAC regions such as Alcatel-Lucent, MetaSolv Software (now Oracle, Inc) Tellabs, Panduit, Maron Structure Technologies, etc. The company also services end customers such as Verizon, AT&T, BellSouth, Quest, Frontier, Rogers Cable, etc. Headquartered in Oakbrook Terrace, IL, USA, the company has over the years evolved from R and D service provider to a turnkey provider of solutions and IT services. Comnet currently employs around 350 professionals between US and India (Chennai).

“We are glad to be associated with a global IT service provider like Infinite Computer Solutions. We will apply our combined expertise for product design and development, testing services, 24X7 customer technical support, training and web enablement in addition to sales and marketing support,” said Ravi Ravichandran, founder, Comnet International Company.

Infinite Computer Solutions was represented in the transaction by Sanjiv Kapur, a partner in M&A practice group from Jones Day and Comnet was represented by Connelly Roberts & McGivney, LLC, an M&A law firm in Chicago.