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News >> Technology >>
Mold Tek to buy US engineering firm
By siliconindia
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Friday, 09 November 2007, 20:30 IST
Hyderabad: Mold-Tek Technologies, Hyderabad based engineering and packaging services company, has approved a move to acquire a US-based structural engineering KPO (knowledge process outsourcing) company along with its associate company in India, reported Business Line.
The board of directors has authorised the company's Chairman and Managing Director, J. Lakshmana Rao, to pursue due diligence and valuation process. While the company expects to fund this acquisition through internal accruals, it is in negotiations with private equity firms to raise additional funds. This is a follow-up of a demerger process the company undertook recently.
Rao told Business Line that the details of the transaction would be announced later during the month when the company promoters are set to visit India. This will add additional revenues of about $2.5 million to the company.