Infotech enterprises acquires TTM

MUMBAI: Infotech Enterprises, a global technology solutions provider, has entered into a definitive agreement to acquire California based TTM, an embedded software services company, for an unspecified amount.

Infotech Enterprises said it evaluated several opportunities before zeroing in on TTM (Time To Market Inc) to launch its foray into the Hitech industry that has a huge potential.

The combined entity has the capability to provide end to end design services to semiconductor, telecom, and computing industries, the company said in a press note. BVR Mohan Reddy, CMD, Infotech Enterprises said the company will pursue other organic and inorganic opportunities to address the whole spectrum of the Hitech industry.

The press note quoting a Nasscom report said global engineering spend on hitech design services stood at USD 170 billion in 2004 and is estimated to reach $00 bn by 2020.