Australian group AAM today formed a joint venture -- AAM Sky Geospatial Solutions -- and will invest USD 10 million over the next three years as it looks to tap the Indian market.
The 50:50 JV with Srinivasa Murthy will see the Australian firm bring in its solutions to work in verticals like the government, public sector units, and oil and gas, among others.
"The new entity will focus on synergies to provide 3D city models with broad area geospatial information... We will invest USD 10 million (about Rs 63 crore) over the next three years as we ramp up operations in India," AAM CEO Mark Freeburn told PTI.
He added that the JV is expected to notch up revenues of about USD 50 million (about Rs 318 crore) in the same period and USD 100 million in five years.
The JV, with centres in Hyderabad and Visakhapatnam, envisages raising its headcount to 1,000 from the current 350 as part of the broader expansion plans.
"Overall, we have revenues of USD 60 million currently and in three years, it should be around USD 110 million. So, India will play a significant role in our business," he said.
The company is in discussions with state governments for projects on smart cities and infrastructure projects.
"Given the focus on smart city planning, infrastructure development and land record modernisation by the Indian government, we are looking at a huge growth opportunity," said AAM India President and Executive Director Srinivasa Murthy.
AAM offers business mapping, asset information, geographic information system (GIS) projects and enterprise solutions, and location-based services to clients across Australia, New Zealand, South-East Asia and Africa.
