HYDERABAD: Hyderabad-based Infotech Enterprises Ltd, a global geo-spatial, design engineering and software services and solutions company, has acquired Tele Atlas India Pvt Ltd, the wholly owned Indian subsidiary of the Netherlands-based Tele Atlas BV. Tele Atlas India, a provider of digital maps, geo-spatial products and dynamic location content, was acquired in an all-cash deal amount to Rs 8.29 crore.
Infotech Enterprises CMD BVR Mohan Reddy said, "We intend to establish a long-term relationship with Tele Atlas to provider database and software solutions. Tele Atlas has also guaranteed purchasing a minimum of 2.5 million hours of service over the next three years from Infotech."
The company is anticipating revenue addition of Rs 70 crore to Rs 90 crore as a result of this acquisition. Tele Atlas has also been offered a three percent stake in Infotech through preferential allotment of shares.
Tele Atlas CTO Bruce Radloff said, "We assure substantial commitment of services in the coming years both from an operational and execution standpoint. As a market place, India is a potential market for various applications and wireless is also growing fast. We would continue to support end-to-end support for the emerging trends and increase the single-point business focus."
Tele Atlas, with facilities in 22 countries in Europe and around 30 worldwide, has recently announced partnerships with Russian companies and is also bullish about entering China. "We are extremely excited about the market in China. We are negotiating on a JV and we hope to finalize it soon," informed Radloff.
Tele Atlas India has around 600 employees in Noida, of which 150 are in software development while the rest are in the digitization process. With this deal, Infotech's present 2,400-manpower capacity would be furthered to 3,000.
Infotech acquires Tele Atlas for Rs 8.29 cr
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