NEW DELHI: An acquisition bug has bitten Infotecnics India Ltd. The firm has
main focus in India, now intents to expand its operations in other countries. In
the financial year 2001-02, the firm plans several acquisitions and joint
venture partnership with two to three companies overseas.
To achieve this end, Infotecnics has already identified a Thailand-based firm
for acquisition. However, Infotecnics managing director Sanjeev Bhavnani refused
to divulge further details on the issue. This apart, it also plans to acquire
few more firms in Malaysia, Indonesia and Singapore.
Acquisition talks are also on with few other firms in Australia. Though the
firm already has its presence in the US, it now wants to have its full-fledged
operations by 2002. Europe is next on its agenda.
This apart, Infotecnics has recently tied up with a firm called Net Edge
Computing where it has a 50 per cent stake. With this joint venture, Infotecnics
wants to have a 100 per cent EOU. No projects in the country would be taken
under this joint venture.
At present, four projects are under negotiation in various counties. Mergers
and acquisitions are also a possibility with this venture. Furthermore, IPO is
on the anvil. Though Bhavnani preferred to be tight-lipped on this subject and
refused to elaborate.