Infinite Computer Solutions acquires Comnet

By : |September 29, 2007 0

BANGALORE, INDIA: Infinite Computer Solutions (I) Pvt. Ltd, IT and business process service provider, has announced the acquisition of US-based Comnet International Company, to strengthen its telecom vertical.

Briefing the media here, Upinder Zutshi, CEO, Infinite Computer Solutions, said, “We are investing $30 million in the next few months in the telecom sector and this acquisition is a part of it.”

He declined to disclose the exact amount of the transaction.

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The $110 million Infinite currently derives $35 million from the telecom sector and expects to reap $56 million end of this financial year, Zutshi informed.

“Going forward our focus is on telecom vertical and we intend to achieve $300 million mark by 2010,” he added.

On the company’s new growth strategy, Zutshi, said, “Infinite will actively pursue the inorganic route as part of the 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.

This 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, Zutshi informed.

The company is also planning to ramp up its head count from 3500 to 7000 by 2010. “Our focus is on transition of business model from headcount based to value addition business model, a shift from linear to non –linear based business model. However, this might lead to drop in revenues this year,” added Zutshi.

Comnet will retain its current structure and presence in the US and India. Comnet will operate as an autonomous subsidiary by the current management team with Ravi Ravichandran, founder of Comnet International Company, as the CEO of the country.

Comnet is a telecommunication focused outsourced product development and IT services company, headquartered in Oakbrook Terrace, IL, USA and a development center in Chennai.

The Chennai center will be developed into the TME Center of Excellence focused on all the Chennai-based customers, Zutshi informed.

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