To acquire US-based co, due diligence on: Infotech Ent

Infotech is making preferential sale and is on lookout for acquisition. The company is planning to acquire a US-based engineering services company worth USD 10-12 million and due diligence is on for that.BVR Mohan Reddy, CMD of Infotech Enterprises said that the acquisition is a part of the growth strategy of the company.

Reddy added that the engineering service space of the company addresses six different markets like the aero space, auto, rail, marine, energy and the hi-tech consumer electronics. ” About 60% of the revenue comes from the aero space as we are pretty strong there. 20% comes from rail and the other 20% is from the rest of the spaces, ” he said.

Read more in The Moneycontrol article.