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Hyderabad-based IT services firm Infotech Enterprises opened its 1,500-seat development centre in Bangalore. With a built-up area of 240,000 sq ft, the Rs 400 million facility would house Infotech’s engineering design services and is the fourth facility in the country – the other three being in Hyderabad.
“This new global technology development centre in Bangalore is in line with our expansion strategy to grow in locations which have the best talented resources in areas of our focus and specialization,” Infotech chairman and managing director BVR Mohan Reddy said. Infotech that currently has over 6,300 employees has over 700 people in Bangalore. Reddy also said that they were scouting for acquisitions in high-tech telecom and automotive verticals. Infotech was looking for companies with revenue of over $10 million and that would be cash accretive to the EPS, he said.
Infotech has entered into a 50:50 Joint Venture with Hindustan Aeronautics Ltd in May 2007 and the Joint Venture, Infotech HAL Ltd, with an initial equity of Rs 280 million would be operationalised soon, Reddy said. In the first year, Infotech HAL Ltd would have 250 people and will operate from the newly opened facility in Bangalore.
