| The signing of a memorandum of understanding between the two companies comes soon after the official visit to India by Russian President Vladimir Putin who was accompanied by a delegation of Russian business majors. Evgeni Utkin, the CEO of Kvazar-Micro was part of the visiting IT delegation. |
| After the round-table meeting in Bangalore, chairman and CEO of Kvazar-Micro, Evgeni Utkin, and the co-founder CEO of SRIT, Dr Madhu Nambiar signed an MoU to leverage and complement each other's skills, competencies and strengths in developing new products and developing end-to-end IT solutions. |
| Kvazar-Micro will deliver business and technology expertise to complement SRIT current resources in further developing their presence in India, the Middle East region and other markets. |
| Kvazar-Micro will leverage the skills of SRIT in IT and SI projects in Russia, Ukraine, other CIS and CEE countries. The company will also leverage SRIT's expertise in offshore development projects to pursue joint opportunities. |
| Kvazar-Micro's is a leading IT company in the CIS/CEE region specialising in systems integration, software development and services, manufacturing and distribution. Kvazar-Micro exploits the full potential the CIS/CEE region and its strategic partners include INTEL, Oracle, IBM, Cisco, Microsoft, Sun and HP. |
| SRIT registered a turnover of Rs 60 crore last fiscal and plans to grow its topline by nearly 25 per cent in the current fiscal. |
| Currently, Sobha's capabilities include IT consulting and integration which contributes for only 3 per cent of its revenues, application re-engineering and maintenance services (35 per cent), product development and software services and enterprise application integration (62 per cent). |
| SRIT 's thrust on inorganic growth can be gauged by its IPR acquisitions in the recent past. The company has so far acquired three IPRs in the healthcare space, 13 IPRs in the Medical Imaging space and has 14 IPRs of its own. Interestingly, SRIT has identified another 16 IPRs for future acquisitions. Discussions for these acquisitions are in advanced stages. |
| The company's seven-acre campus in the IT corridor is in the pipeline with a budget outlay of Rs 70 crore. By 2007-08, the company intends to register revenues of Rs 500 crore and be nearly 5,000 strong. |
| Speaking on the occasion, Dr Nambiar said, "Our Russian market initiatives has now begun. Together with Kvazar-Micro, we will reach out to Russian & CEE markets. We will also take our Russian venture partners to those geographies where SRIT has already made its mark". |
Explore Business Standard