Spanco (S) Private Ltd, a subsidiary of Spanco Telesystems & Solutions Ltd which is one of the leading providers of telecom integration and back office services in India, has announced the acquisition of Great IT Private Ltd. Great IT owns exclusive rights to provide complete technology and IT infrastructure to Great Wheel Corporation. Spanco expects to generate revenues of more than $ 200 million in the next 6 to 7 years besides indirect revenues through various other opportunities which will come up in the similar segment and in the countries of operation. Spanco will invest around $ 40 million in the next 2 years.

Commenting on the acquisition, Kapil Puri, Chairman, Spanco Telesystems & Solutions Ltd said “This acquisition will give us access to more than 10 countries through its presence in providing and supporting 16 Wheels which Great Wheel corporation will set up in the next 5 years.

The Singapore Flyer business will be worth $ 10 million this year although a lot of project related work has already been completed prior to the acquisition”, he added.

Great Wheel is also coming to India and the first such wheel is likely to be set up in Delhi against the backdrop of the Common Wealth Games in 2010. Spanco will use its current expertise in the business of Networking, Software, RFID, AIDC and BPO and will continue to acquire and upgrade their skills to provide technology in other areas of businesses as well. 

Sourced From: Text 100 Public Relations Consultancy