Omnitech buys Dutch firm Avensus for Rs 45 cr

MUMBAI: Leading IT services provider in the SMB segment Omnitech Infosolutions today said it has taken over Avensus Netherland BV for around Rs 45 crore in an all- cash deal and hopes to close the acquisition by the first week of February.

"We have acquired a 100 per cent stake in Avensus for USD 9 million in an all-cash deal. We have made an upfront payment of USD 4.8 million and the remaining amount will paid over a period of three years. We hope to close the deal by the first week of February," Omnitech managing director and chief executive Atul Hemani said here.

The deal will help Omnitech get an access to over 100 existing customers of the Dutch firm Avensus, explore cross-selling of its services such as remote infrastructure management, application management, business continuity and domain services.

Avensus offers managed IT services such as security, storage and virtualisation solutions to banking and financial services institutions (BFSIs), healthcare and government sectors.

The acquisition will also help the Mumbai-based Omnitech gain new customers by leveraging its global delivery model to offer competitive services to European customers thereby increasing the overall profitability.