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Omnitech zeroes in for on buys in US, Europe $35mn
IT firm Omnitech Infosolutions is closing in on two acquisitions in Europe and the United States for around USD 35 million even as it aims for a nearly four-fold growth over the next three years.
IT firm Omnitech Infosolutions is closing in on two acquisitions in Europe and the United States for around USD 35 million even as it aims for a nearly four-fold growth over the next three years.
Commenting on the same, Atul Hemani, MD of Omnitech Info Solutions said the deal-size for the US one is around USD 20 million and for the European one, around USD 15 million. "We should be able to close the first acquisition within 45-60 days," he added.
The company has tied-up lines of credit with two banks.
Omnitech's core business focus areas are IMS, application managed services and increasingly, cloud-computing.
Going forward, Hemani believed, the company has the potential to grow almost around four times in the next three-years. "We continue to maintain our guidance of growing roughly around 35% organically in this financial year."
