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Infotech gulps Wellsco
By siliconindia
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Tuesday, 10 August 2010, 21:42 IST |
2 Comments
Bangalore: Infotech Enterprises, a Hyderabad headquartered technology solutions provider, today announced the acquisition of Arkansas based Wellsco by its wholly owned subsidiary Infotech Enterprises America (IEAI) in an all-cash deal.
Explaining about the acquisition, BVR Mohan Reddy, Chairman and CEO, Infotech Enterprises, said, "The telecommunications industry has always been an important market for Infotech and telecom network design and engineering has emerged as an excellent growth area for us. With this acquisition, Infotech gains access to the deep domain skills and experience of the local Wellsco team, which combined with strong, long-term customer relationships and U.S. delivery capability, will serve to accelerate our growth. We are confident that we will leverage this acquisition to create strong momentum and further enhance our leadership position in the Network Engineering Services market space."
Towards achieving its vision of 'Delivering innovative solutions together for a better future' and becoming a $1 billion enterprise, Infotech has focused on several strategic initiatives like strengthening its domain expertise in new market segments within existing industry verticals.
"We believe we have found an excellent partner in Infotech Enterprises and are very excited about joining a global leader focused on network engineering services. Infotech's complementary skills, financial strength and global resource pool complement Wellsco's strong national presence and our long term relationships with various leading U.S. telcos," said Jim Wells, President, Wellsco of the acquisition.
