Infospectrum acquires Avexus for $ 30 Million
By SiliconIndia | Thursday, 30 November 2006, 06:00 Hrs
Nagpur: Infospectrum, a global provider of technical consulting services, has acquired Avexus Inc., valued over $ 30 million, according to a business newspaper.
Avexus is a solutions provider to companies that own, operate, manufacture, supply, maintain, repair and overhaul high value, complex assets, specifically targeted for the aviation industry.
Nitin Nistane, COO, Infospectrum India said that this has been a strategic acquisition in line with the companyâs long-term vision and goals.
"It doubles the size of our customer base and allows Infospectrum to become a dominant force in the MRO market and in Indiaâs Rs 4,500 crore aviation MRO market future," said Nistane.
Infospectrum based in the city, will be the focal point for all customer support, international sales and new product development for the Avexus product line.
It has even bagged multi-million dollar assignments from group companies of Kongsberg AS Norway in the field of marine vessel traffic management, satellite imaging, network protocol development and wireless network planning. Kongsberg AS is $6.5 billion (Rs 30,000 crore) group headquartered in Norway. The bulk of the groupâs operations address international markets with a strong and growing geographical distribution of earnings.
Infospectrumâs new infrastructure creation to accommodate 800 resources is in line with the long term vision of Infospectrum, for sustaining the growth, said Jay Chopde, the CEO of the company.
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