Indian firm Rolta to buy Canadian company

Friday, 06 July 2007, 19:30 IST
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Mumbai: Indian software firm Rolta Friday said it was signing an agreement to acquire the Canadian software firm Orion Technology for an undisclosed amount. Without disclosing the deal size, Rolta, in a statement here said it expected to generate around $100 million over the next five years by integrating the acquired technology from Orion, which specialized in enterprise web-GIS (geographical information systems) solutions. "With this acquisition, we have significantly expanded our capabilities to provide state-of-the-art products and services. We will now be able to provide unique solutions that offer high returns on customers' investments in GIS," said K.K. Singh, chairman and CEO of the Rolta group. "This intellectual property also gives us an exceptional platform to develop new solutions for a clientele well beyond the segments traditionally served by Rolta and Orion, such as for mobile applications. "This is a strategically important acquisition that enables Rolta to own technologies for taking its GIS offerings to the next level." Singh said as a wholly owned subsidiary of Rolta, Orion will continue its operations under the same name from its headquarters in Canada, and would be managed and operated by the management team that is currently in place. Orion's founder and chairman Zul Jiwani said: "We are excited about becoming a part of the Rolta group. This fulfils our aspiration to have a global reach for promoting widespread use of our products and services. "The combined strength of our two organisations will also enable us to accelerate enhancement of our products and services."
Source: IANS