Aptech to buy content development co in US

IT and multimedia training firm Aptech Ltd is planning to acquire an existing content development firm, either domestic or one based in the United States, at a cost of "$4-5 million" to strengthen its presence in this arena. Aptech is one of the new entrants in the content development space.

"We have appointed a merchant banker and the process is expected to be over by June," Aptech CEO & MD Pramod Khera told TOI. However, he did not comment on whether Aptech has already zeroed in on any firm and the likely size of the entity.

Khera said the proposed acquisition would help Aptech lower operating costs as it would have access to the target firm's facilities and mayalso use latter's human resources.

He did not elaborate on the number of Aptech employees engaged in content development for US clients. Aptech would spend over Rs 20 crore to set up 50 aviation training centres nationwide by 2009. It now has seven.

"The eastern region offers good potential in aviation sector and we plan to open eight-nine centres there, including one in Kolkata in two-three months." Aptech will lessen its focus on training the government sector, as it is a capital-intensive and low-return business. "We want to exit this space by 2008," he said.