Omnitech acquires Avensus Netherland for $9 mn

Omnitech Infosolutions, a business availability and business continuity services provider has bought Avensus Netherland BV for $9 million.

The company said that it will be paying $4.8 million as an upfront payment and the rest will be a deferred payment and earnout which shall be paid over a period of 3 years. Through this deal, Omnitech will get over 100 clients of Avensus and the synergy generated between the two companies will help Omnitech to gain new customers by leveraging its global delivery model.

Avensus is a European firm offering managed IT services, and security, storage and virtualisation solutions to BFSI, healthcare, and government sectors. The company had a turnover of $13 million in CY09 and has a huge customer base including some fortune 1000 corporate companies.

Omnitech, through this acquisition, aims to achieve $30-35 million revenue growth through entire Europe by FY14.

Atul Hemani, managing director and CEO, Omnitech Infosolutions said, "With the acquisition of Avensus, Omnitech will further strengthen its presence in the European market. It will also provide the right platform for Omnitech to leverage the local strengths combined with Omintech's Global delivery model in servies like Remote Infrastructure Management., Applications Management Services, BCP Consluting and niche BFSI consulting services."

Omnitech said that its total staff strength will reach globally to over 1100 employees post this acquisition.