Satyam to acquire UK-based NITOR for $ 5.5 million

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New Delhi, Oct 23 (UNI) Software giant Satyam Computer Services Ltd today said it has inked an agreement to acquire the UK-based infrastructure management consulting firm Nitor Global Solutions Ltd (NITOR) for up to 5.5 million dollars in cash.

''With this acquisition we are confident of achieving rapid growth in our Europe IMS (infrastructure management services) business,'' company's IMS Business Global Head Nick Sharma said in a statement.

The deal marks the second acquisition in Europe by the software exporter which recorded revenues of 1.46 billion dollars in the fiscal ended March 31, 2007.

NITOR, which was founded in 2002, posted revenues of three million dollars for year ending September 2007.

It brings to Satyam new relationships with some of the dominant players in banking, Pharma, and telecom and media industry in Europe, statement said.

UNI

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