Reliance to foray in IT

BANGALORE: The Reliance group has announced that it would enter into software development and information technology. The company has put together an infotech strategy, which includes acquisitions, venture capital and software development.

Reliance has been looking for opportunities to acquire small, profitable software companies as a port of entry into what has become the hottest business in the world. Reliance is understood to have also acquired at least two software boutique companies in Bangalore. One specialises in telecom and communications software while the other operates in the specialised ERP. Initially, the group will utilize the talent acquired to optimize its in-house processes.

The group is also looking at a number of cities across the country, among them are Bangalore, Pune and Hyderabad, to establish its software development centres. The software division is expected to be headquartered in Bangalore. While it is not yet known what kind of software will be developed at these centres, most of it is likely to be for in-house use by Reliance. There has been speculation over the past few weeks that RIL has been talking to an overseas software company for taking it over. Reliance is said to have already deputed a senior person to head the software development business.