Aftek acquires balance 51 per cent stake in Arexera

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Aftek Infosys Ltd, a leading player in the enterprise business management space, has acquired the remaining 51 per cent of the Munich-based Arexera Information Technologies GmbH thus acquiring 100 per cent of Arexera. The announcement was made at the 18th Annual General Meeting (AGM) of Aftek held on December 30. At the meeting, the company also declared a dividend of 50 per cent (Re. 1 per equity share Rs. 2/- each) on the expanded equity for the accounting year 2004-05. The members also raised the FII investment limit from 30 per cent to 40 per cent of the ordinary share capital of the company. 

Mr. Ranjit Dhuru, chairman and managing director of Aftek said: “Complete acquisition of Arexera was always on our radar since there is a lot of potential in the enterprise search space and Arexera has the right tools to tap this potential and build on it. Plus there was always the Seekport advantage. Through Arexera we now own 33 per cent of Seekport.” Aftek initially held a stake of 49 per cent in Arexera retaining the right to acquire the remaining 51%. In 2004, Aftek acquired the 56 per cent stake in Seekport Internet Technologies GmbH ( www.seekport.de ) through Arexera and its employees.

The investment banker to the transaction was M.M. Warburg (estd.1798); the independent valuation has been done by PKF (the 8th largest Accounting firm in UK).

Arexera caters to an impressive list of clients like BMW, Axel Springer Publishing – Germany’s largest publishing group, KPMG Beiten Burkhardt GmbH – the global law firm, T-online – Europe’s leading Communications company and Datev -- Germany's largest association of self-employed tax consultants, auditors and lawyers in the Enterprise Search (ES) space. Arexera is now poised to explore the Enterprise Content Management (ECM) space thus strengthening its stand as a global player.

Mr. Simon Khosla, who has recently been appointed as a COO for Arexera, said, “Aftek has very rightly identified the niche area of ECM. ECM has a world wide market of over (USD) 3 billion and with strong products in Enterprise Search (ES), Aftek is well poised to address this opportunity.” Prior to being appointed, as the COO in Arexera Mr. Khosla was the COO of SAPERION. Prior to joining SAPERION, Mr. Khosla was CEO for the EMEA/Latin America area at IXOS Software AG. During his tenure in that position, he succeeded in strengthening the development and expansion of IXOS's international solutions business. Mr. Khosla brings 26 years of IT experience in sales, marketing, and company leadership to Aftek Infosys

Sourced From : Prana Public Relations