Omnitech Info acquires Avensus Netherland for $9 mn

MUMBAI: Omnitech InfoSolutions has acquired Avensus Netherland BV for $9 million in an earn-out structure. The company will make an upfront payment of $4.8 million and the remaining amount will be a combination of deferred payment and earnout which shall be paid over a period of three years.

Avensus Netherland is an European based firm offering managed IT services, security, storage and virtualization solutions to BFSI, healthcare and government sectors.

Meanwhile, the stock was at Rs 209.50, down 2.40 per cent on the BSE. It touched a low of Rs 209.20 and high of Rs 220.95 in trade so far.