Thursday, May 21, 2009

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Yash Birla moves into IT sector

The Rs 3,000-crore Yash Birla Group (YBG) marked its foray into the IT sector with the acquisition of Mumbai-based Melstar Information Technologies. Listed on the Bombay Stock Exchange and National Stock Exchange, Melstar is a service provider of professional consulting and project services and solutions.

“The Melstar acquisition fits into the Group’s ongoing thrust on growth and exploring new-age sectors like education, healthcare and IT. We see a strategic fit between the Yash Birla Group and Melstar vis-à-vis the directions that the Group has set for itself,” said Yash Birla, chairman.

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