Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Rolta to acquire Canadian firm Orion Technology
BackBack

Rolta to acquire Canadian firm Orion Technology

Rolta to acquire Canadian firm Orion Technology

Premium

PTI

Mumbai: Rolta India Ltd on 6 July announced acquisition of Canada-based software and integration company Orion Technology Inc for an disclosed amount.

The company informed the Bombay Stock Exchange that it has signed a purchase agreement to acquire Orion Technology Inc, which specialises in enterprise web-GIS solutions.

“With this acquisition, we have significantly expanded our capabilities to provide state-of-the-art products and services. We will now be able to provide unique solutions that offer high returns on customers’ investments in GIS.

“This intellectual property also gives us an exceptional platform to develop new solutions for a clientele well beyond the segments traditionally served by Rolta and Orion, such as for mobile applications," Rolta group chairman and CEO, K K Singh, said.

Rolta expects to generate revenues of the order of $100 million in the next 3-5 years by integrating the technologies now acquired, with Rolta solutions, it added.

As a wholly-owned subsidiary of the company, Orion would continue its operations under the same name from Canada and operated by the management team that is currently in place.

With Orion’s technology and expertise, the company would now be positioned to provide spatial integration consulting, software and implementation services for global customers to efficiently integrate their GIS resources to meet information needs of their constituents, Rolta said.

Rolta India is engaged in the provision of computer-aided designing (CAD), computer-aided manufacturing (CAM), geo-spatial information system (GIS) solutions, e-business and other information technology (IT)-related services.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 06 Jul 2007, 10:50 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie