Infinite acquires Datagrid

Hyderabad-based Datagrid Services to remain as Infinite's wholly-owned subsidiary

Infinite Computer Solutions India Private Limited, an information technology and services provider, here on Thursday announced the acquisition of Hyderabad-based Datagrid Services Private Limited.

Infinite, which started its operations in the US in 1999, has also acquired six acres of land in Hyderabad to set up a 3-lakh square feet office complex at a cost of $10 million.

The $100-million Infinite currently has four development facilities "� three in the US and one in Bangalore. The company has now chosen Hyderabad as a major development centre, which will service the booming offshore business. "Hyderabad marks Infinite's next phase of growth and consolidation," Infinite's chief executive officer Upinder Zutshi, said.

Stating that it was an-all cash deal, Zutshi said Datagrid, the first business process outsourcing company to be acquired by Infinite, would remain as its wholly-owned subsidiary. He, however, declined to disclose the monetary value of the transaction.

Zutshi told mediapersons that the acquisition was part of Infinite's growth strategy to achieve a turnover of $300 million by 2009. It would also help Infinite to augment its BPO services, especially in the healthcare, financial and legal services verticals. Datagrid currently has an employee strength of 250, which would be increased to 900 in a year's span. Infinite has also proposed to increase its employee strength globally from the existing 3,500 to 9,000 in the next three years.

According to Zutshi, Infinite will also open global delivery centres in Romania and Brazil. In India, the company is planning to open its offices in Kolkata and Gurgaon. Plans are on the anvil for opening another development centre in Pune. Infinite will also come out with an initial public offer (IPO) in future. The timing of the IPO is yet to be decided.

He said that Infinite's clientele included leading global companies such as Verizon, IBM, GE, AOL, Pitney Bowes, Lehman Brothers and Fiserv. In the current fiscal, the company expects to post a turnover of $110 million.