Mumbai: Rolta, a mid-size IT and engineering services firm is all set to acquire a Chicago-based software firm. Though the name of the company is still to be unrevealed. However, there is a possibility that the firm is into Business Intelligence. Rolta is ready to shell out an amount of around $40-50 million in order to acquire the company. The company may make the acquisition public in the next few days.

K. K. Singh, Rolta's Chairman and Managing Director said the company continued to evaluate acquisitions that were strategic to its business. But reportedly, he refused to comment on whether it had closed an acquisition deal with a Chicago-based IT firm. He further opined that they are exploring a number of opportunities.

Rolta has raised around $150 million through FCCBs about one and a half year back for acquisition. Hence, market analysts are expecting for more acquisitions by the company.

Rolta deals in geographic information systems (GIS) technologies. Singh added that the acquisitions help broadbase its customers. 50 percent of its revenues come from GIS and 20 percent from IT services. "The TUSC acquisition was high-end - two of the founders of TUSC sit on the Oracle's strategy committee."

Business intelligence is software that helps track historical information from databases and thus provides value-addition using statistical and analytical tools to help intelligent decision-making. Companies that offer business intelligence software consulting typically operate at the premium end of the business. Satyam Computer Services had acquired Bridge Strategy, a Chicago-based firm operating in a similar business, in the fourth quarter of the last fiscal for $35 million, reports The Economic Times. Satyam had acquired 30-40 consultants through Bridge, whereas Rolta is expected to acquire around 80 consultants through the deal.

Rolta has earlier acquired Broech Corporation for $45 million. Broech, the Chicago based company carries the brand name TUSC, as an IT firm specialising in ERP (enterprise resource planning) applications and Oracle database technologies. If Rolta acquires the Business Intelligence company, it will be capable of an all-round Business Intelligence support. Rolta shares were up 3.2% on the BSE on Monday, ending at Rs 297.90. There is 34 percent growth in net profit at Rs 230.6 crore. According to The Economic Times, Rolta has a 51 increase in revenue at Rs 1,072.2 crore for its fiscal ended June 30, 2008.