The Yash Birla Group, a diversified Rs. 3000 crore business house, has announced the acquisition of Melstar Information Technologies Ltd, an Application Development Software Services company. This initiative marks the Group’s foray into the I.T. sector. Melstar is a complete service provider of Professional Consulting and Project services and solutions. It is one of the preferred vendors for software development services; the company also has a strong focus on the Banking, Financial Services, and Insurance sector. Melstar has its Head Office at Mumbai; in India it has marketing/sales operations and project services centres operating out of Mumbai, Bangalore, Chennai, Hyderabad, Gurgaon and Kolkata. It also has offices in the USA, UK and Singapore as well as wholly owned subsidiaries Melstar Inc. in the USA and Melstar (UK) Ltd. in the U.K.
Commenting on this acquisition, Mr. Yash Birla, Chairman of Yash Birla Group said, “The Melstar acquisition fits into the Group's ongoing thrust on growth and exploring new age sectors like Education, Healthcare and IT.” He further added that “We see a strategic fit between the Yash Birla Group and Melstar vis-à-vis the directions that the Group has set for itself.
Subsequent to this acquisition, the Board of Directors of Melstar has been reconstituted with Mr. Yash Birla as Chairman, Mr. PVR Murthy and Mr. Anoj Menon as Directors and Mr. S.M. Arora as Managing Director. Mr. Richard D’Souza has been appointed as the Chief Executive Officer.
