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Infotech Enterprise acquires Advanced Graphics
Our eFE Bureau
Hyderabad: In order to strengthen its global presence in Europe, Hyderabad-based Infotech Enterprise Limited, a global solution company, has recently acquired a German-based - Advanced Graphics Software. This acquisition will help the company in business development and capture the increasing opportunities in GIS, engineering and e-solutions, which are the three core competency areas in Europe, BVR Mohan Reddy,CMD of the company said while addressing press-persons on Wednesday. He said Infotech's main markets for business development continue to be North America and Europe. In order to strengthen the European presence and capture the increasing opportunities in GIS, engineering, e-solutions, the company has set up a group of senior executives with a Pan-European sales and marketing focus. Announcing the group consolidated results, he said the consolidated unaudited group revenue for the nine-month period ended December 31, 2000, including all wholy-owned subsidiaries, was put at Rs 71.82 crore and net profit at Rs 13.80 crore. The net profit for the quarter was put at Rs 4.86 crore (Rs 2.79 crore), an increase of 74 per cent compared to last fiscal. The EPS for the quarter was pegged at Rs 8.24 crore compared to Rs 4.98 for the corresponding quarter in the previous year. The significant new customers added during this quarter were Reliance group, Hamilton Place, Amcast of the US, Mccain Associates of US, Infasgeodaten of Germany, Mr Reddy added. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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