Date:17/05/2007 URL: http://www.thehindubusinessline.com/2007/05/17/stories/2007051700780400.htm

Back Infotech buys majority stake in Geospace

G Naga Sridhar

Hyderabad May 16 As part of its strategy to tap geospatial business, Infotech Enterprises has acquired a majority stake in the Hyderabad-based Geospatial Integrated Solution Pvt Ltd (Geospace Integra) for an undisclosed sum.

According to a release, Infotech and Geospace Integra would consolidate their geospatial business in India and West Asia into a single entity. The new entity would operate as a subsidiary of Infotech.

"By leveraging the knowledge and experience of Geospace Integra, we have a compelling value proposition for customers in these markets. We expect to achieve Rs 100 crore revenue in the next three years from our India and West Asia business," Mr B.V.R. Mohan Reddy, Chairman and Managing Director, Infotech, said.

The geospatial market in India and West Asia is estimated at Rs 1,000 crore and is expected to grow at two per cent over the next five years.

The Union Government's Open Map Policy and Survey of India's large-scale mapping initiatives are unlocking geospatial opportunities in several areas.