Bangalore Oct 9 (UNI) Shoba Renaissance Information Technology (SRIT) today announced its Joint Venture (JV) with Capital Technic Group (CTG), an Australian Management Consulting and Services firm.
The joint-venture capitalised at Australian dollar 2.5 million aimed to produce dollar 7.5 million in annual revenues from the second year onward and ramping up to dollar 65 million by year five.
The Company in a release here said the joint-venture, Shoba CTG Solutions Australia Pty Ltd., would launch SRIT's products and services in the Australian markets, while SRIT would enhance the growth of CTG's consulting services in the realm of ICT.
Structured as a 50:50 JV, Shoba CTG Solutions Australia Pty Ltd.
aimed to enter the Australian ICT markets in the areas of healthcare, telecom and enterprise. While the joint venture company has been registered as Shoba CTG Solutions Australia Pty Ltd, the trade name has been set as, 'Shoba CTG Solutions'.
Capital Technic Group is a privately-held, Corporate Advisory and Investment Banking Services Company based out of Sydney with operations spread across US, UK, India, China, Malaysia, Singapore and Japan. It focused on providing technology services for infrastructure markets including biomedical devices, energy, environmental engineering, finance and banking, industrial biotechnology, informatics, homeland defense, telecommunications and transport.