Chennai-based training and SAP implementation company, Kaashyap Technologies Limited (KTL), is in the process of acquiring a logistics solutions company in the US. It is also scouting for a joint venture in Philippines for SAP infrastructure and for recruiting and training people. | |
| "KTL is in an advanced stage of discussion with a company with core competency in the ERP area in the mid west region of US," chief executive officer, Sanjay Bharadwaj, said. |
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| According to Bharadwaj, the targeted company has a turnover of $20 million and the acquisition will strengthen and consolidate KTL's position as a SAP player. KTL expects to register $35 million in the next two years from the American company. |
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| He said KTL had already floated global depository receipts (GDR) of $8.5 million and was planning another GDR for $17 million to finance its organic and inorganic growth plans. |
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| At present, he said, KTL has two major projects in the pipeline, including a Rs 500-crore project from the Karnataka government. |
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| The company expects to post a revenue of Rs 100 crore in the current financial year. |
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