Rolta to acquire U.S. IT company
By siliconindia   |   Monday, 29 December 2008, 22:51 IST   |    1 Comments
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Mumbai: Rolta, an IT company is close to acquiring a U.S. based specialist IT firm, which provides software and related services to the oil and gas industry. The deal will give Rolta consulting and IT skills specific to the oil and gas, petrochemical and power industries. The deal value was not ascertained but the company will acquire both intellectual property and consultants specialised in implementing the software. Rolta had raised around $150 million through foreign currency convertible bonds (FCCBs) nearly two years ago, specifically for acquisitions, reported The Economic Times. According to an analyst, Rolta could look at leveraging the acquisition for its domestic business as well, where it has significant presence in some of these sectors. Unlike most Indian IT firms, Rolta gets a substantial amount of business from within the country. It has a strong presence in geographic information systems (GIS) and engineering software where most of its customers are from sectors like oil and gas, petrochemicals and energy. Earlier, Rolta had acquired WhittmanHart Consulting, a Chicago-based business intelligence firm for $40-50 million which gave Rolta around 80 consultants. Prior to its acquisition of WhittmanHart, Rolta had acquired Broech Corporation for around $45 million.

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