ITC Infotech eyeing acquisition in US
ITC Infotech India, IT arm of FMCG player ITC Group, is scouting for acquisitions and alliances in the US to strengthen its presence in that country
By PTI |
MUMBAI: ITC Infotech India, IT arm of FMCG player ITC Group, is scouting for acquisitions and alliances in the US to strengthen its presence in that country.
"ITC Infotech is exploring strategic alliances and partnerships to strengthen its presence in the US market. It is also evaluating opportunities for inorganic growth in the US," ITC Chairman Y C Deveshwar said in a letter to the shareholders.
The company runs is present in the US through a wholly-owned subsidiary ITC Infotech (USA), which recorded a turnover of $ 9.31 million last fiscal. It clocked a net profit of USD 0.18 million in 2006-07.
ITC Infotech India also has a joint venture, Sitel Operating Corporation, with CLI3L e-Services.
Last fiscal, ITC Infotech had targeted markets like Finland, Denmark, Sweden and Norway. It set up a branch office at Copenhagen in Denmark for onsite co-ordination in the region.
"A large bank and an airline company headquartered in the region have added to the customer list. Two dedicated development centres have been set up at the Bangalore campus to service these clients," he said.
"ITC Infotech is exploring strategic alliances and partnerships to strengthen its presence in the US market. It is also evaluating opportunities for inorganic growth in the US," ITC Chairman Y C Deveshwar said in a letter to the shareholders.
The company runs is present in the US through a wholly-owned subsidiary ITC Infotech (USA), which recorded a turnover of $ 9.31 million last fiscal. It clocked a net profit of USD 0.18 million in 2006-07.
ITC Infotech India also has a joint venture, Sitel Operating Corporation, with CLI3L e-Services.
Last fiscal, ITC Infotech had targeted markets like Finland, Denmark, Sweden and Norway. It set up a branch office at Copenhagen in Denmark for onsite co-ordination in the region.
"A large bank and an airline company headquartered in the region have added to the customer list. Two dedicated development centres have been set up at the Bangalore campus to service these clients," he said.
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