Infotech takes majority stake in Geospace Integra

Infotech takes majority stake in Geospace Integra

Wednesday, 16 May 2007, 07:00 Hrs
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Hyderabad: Global IT service firm Infotech Enterprises Limited Tuesday announced that it has taken a majority stake in Hyderabad-based Geospatial Integrated Solutions Pvt Limited (Geospace Integra) to explore geo-spatial business opportunities in India and the Middle East.

Under the agreement, Infotech and Geospace Integra will consolidate their geo-spatial business in India and the Middle East into a single entity led by Chandrasekhar Nori, who has over 25 years of experience in remote sensing and mapping industry in India, said a company statement.

The new entity will operate as a subsidiary of Infotech Enterprises.

"By leveraging the knowledge and experience of Geospace Integra, supported by Chandrasekhar Nori's leadership, we have a compelling value proposition for customers in these markets. We expect to achieve 100 crore (1 billion) revenue in the next three years from our India and Middle East business," said B.V.R. Mohan Reddy, Infotech's chairman and managing director.

The geo-spatial market in India and the Middle East is estimated at 10 billion and is expected to see a 12 percent growth over the next five years.

Infotech is a world leader in geo-spatial services, particularly for the telecom, utilities and government markets in North America, Europe and Australia. It also enjoys a significant presence in the telecom and utility segments in India.
Source: IANS
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