Vishal Information Technologies has announced that the company is in final stages of term sheet with a European Digitization Company for acquisition. This European Company technologies and services process the contents of historical and contemporary documents in such a way that the information contained therein is rendered usable and becoming marketable.
The company is one of the largest digitization concern in Europe, is a leading services provider to Newspapers and Libraries across Europe. Vishal would get substantial benefit from this acquisition by way of outsourcing opportunities to its Chennai centre and also increase the consolidated top line many folds. With this acquisition in place the turnover of the Company will go up close to Rs 135 crore and the profits will cross by around Rs 30 crore.
The company made this announcement during the trading hours today, 05 August 2009.
Thursday, August 6, 2009
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