Omnitech aims to seal overseas deal

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Bangalore: Omnitech InfoSolutions, a technology services and technology-enabled services provider, is eyeing overseas acquisitions and hopes to seal at least one such transaction by the end of this fiscal (2009-10). Atul Hemani, Managing Director, Omnitech InfoSolutions said, "We are hopeful of sealing a cross-border acquisition this fiscal. We are looking at opportunities in both the U.S. and Central Europe. The company would prefer to make an acquisition in the BFSI space since it was a strong thrust area but would not restrict itself to that segment alone " Last year, the company was very close to seal a deal with a U.S. company, but following the economic meltdown, the deal was put on the back-burner. Hemani said, "One option is to revive talks with this company. The second is to look at other companies and we already have a few on our radar." The deal size in the BFSI space is expected to be in the range of $20-25-million.