Business Daily from THE HINDU group of publications
Thursday, Apr 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Apr 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Mergers & Acquisitions Dhanus Tech acquires Sreeven Our Bureau Hyderabad, April 16 Dhanus Technologies has picked up a 60 per cent stake in Sreeven Infocom Pvt Ltd, a Hyderabad-based IT and ITeS service provider. The all-cash deal would translate into infusion of additional capital into Sreeven Infocom, which will retain its identity. Mr S. Muthukrishnan of the Chennai-based Dhanus Technologies will be the Chairman of the board. Dhanus Technologiesis also close to acquiring a couple of telematics companies in the US and Europe, said Mr Muthukrishnan. Earlier this year, the company acquired the Turkish telecom firm Boruskan Telekom. “Our US and Europe acquisition would be companies of $2-$2.5 million turnover,” he told newspersons. Dhanus Technologies, which went to the capital markets in October 2007, has some funds and internal accruals that would suffice to affect the acquisitions, Mr Muthukrishnan explained. The company, through these acquisitions, wants to accelerate its growth in telematics services, e-Governance and BPO services in India. More Stories on : Mergers & Acquisitions | Software
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