Chennai IT firm Quintegra may buy US co for $50 m
Source:EconomicTimes
Date: August 22nd, 2007
Quintegra Solutions, an IT services and solutions company, is looking to acquire a US-based software company in the BFSI space for about $50 million, as a part of its plan to strengthen its presence in the market. The Chennai-based company is in the process of raising resources to fund the takeover, according to sources close to the development. It would pay $20 million upfront in cash, for the US based company which reported revenues of $62 million in 2006. It is said to have tied up initial round of funds with SBI for the takeover. If it goes through, Quintegra’s revenue this year is expected to be above $100 million against the earlier projection of $40 million.
Related Posts
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply