Opel Systems merges with MYTecSoft

Opel Systems Inc, a US-based IT consulting and process outsourcing solutions, has merged with Hyderabad-headquartered business solutions, consulting and IT services provider, MYTec Software Private Limited (MYTecSoft).

"This horizontal merger will provide enhanced technical services and products to our customers, new products to our vendor partners, and further expand our clientele base, all which will fuel our anticipated revenue growth," Ram Reddy, CEO of MYTecSoft, told the media here today.

The combined revenues of the new entity, to be called MYTecSoft, is expected to touch $11 million (around Rs 44 crore) in 2007-08 and $30 million (Rs 120 crore) by 2008-09. It currently has an employee strength of around 200, said Mark Nelson, chief financial officer of MYTecSoft.

While Opel Systems provides consulting services for the automotive and pharmaceutical industries, MYTecSoft provides collaborative business solutions for sectors including agriculture, cable manufacturing and utility and products using technologies like mobile, radio-frequency identification (RFID) and global positioning system (GPS).

The company, according to Reddy, is in the process of setting up a global development centre in Visakhapatnam, which will house around 500 professional in the next two years.

"We are set to acquire 2.5 acres of land in Vizag in a month, and expect to start operations from the centre by the end of 2008. The centre will take up product development, besides executing service level agreements," he added.