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Hyderabad, Nov. 1

Prithvi Information Solutions Ltd has announced the acquisition of New Jersey (US)-based Agadia Systems Inc for $4.5 million (Rs 18 crore). The Managing Director, Mr Satish Kumar, said that the acquisition is strategic and helps to expand the company’s operations. The company recorded an income of Rs 264.08 crore and a profit of Rs 26.5 crore for the quarter ended September 30, 2007 as against an income of Rs 169.87 crore and a profit of Rs 22.15 crore for the corres ponding quarter last year. The growth reflects 55.45 increase in revenues and 21.66 per cent in profit. Prithvi managed to cover the forex exposure and gained with improved performance. —

Our Bureau

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