Group has announced that it plans to acquire Mumbai-based Onida
Infotech Services, a division of MIRC Electronics Limited, for an
amount of Rs 3 crores in an all cash deal.
Infotech, with an annual revenues of Rs 4 crores, operates in the
areas of SAP implementation, maintenance and support activities
and has an employee strength of nearly 80.
on the acquisition, Jerry Rao, chairman and CEO of MphasiS said:
“We are excited about the acquisition as it reaffirms our stated
strategy of acquiring and partnering with niche players for competitive
advantage. This buy provides a fillip to our ERP implementation
practice and strengthens our service offerings.”
Ravi Ramu, CFO, MphasiS: “With this acquisition we are foraying
into SAP implementation practice. We see tremendous value in this
acquisition and will get a headstart into this segment. It is difficult
to get experience SAP professionals in the current market, but with
this acquisition we are acquiring the talent also.”
`The MphasiS group is a provider of software and
system integration technology and BPO services. It has 6,500+ employees
and 9 development centres worldwide.