Rolta India climbs 7% on Piocon acquisition

MUMBAI: Rolta India rose as much as 7 percent after the software services firm said on Monday it has acquired US-based Piocon Technologies for an undisclosed amount.

Chicago-based PIOCON Technologies Inc. provides information technology solutions to corporate and institutional clients. The company offers system integration, application architecture designing, data warehousing, and enterprise software development.

The latest acquisition is a part of Rolta's systematic growth plans to provide configurable solutions that address the real challenges faced by industry today.

According to analysts, with Piocon, the Indian firm has acquired its track record of over 15 years, a significant customer base including Fortune 100 companies, highly experienced consultants, unique methodologies and technologies, ongoing customer contracts, and a profitable revenue stream in a fast-growing market.

At 10:40 am, the company's shares gave up some gains and was trading up 5.45 per cent at Rs 117.05.