Accentia acquires 51 pc stake in Oak Technologies

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Mumbai, Apr 1: Accentia Technologies has acquired 51 per cent stake in the US-based Oak Technologies in an all cash deal, not specified. Oak Technologies is an integrated services provider in the field of healthcare receivables management, operating from US and several locations in India.

Through this acquisition, Accentia got into its fold a global workforce numbering 700. Oak Technologies has its presence in Hyderabad, Nagpur and Bhubaneshwar in India. Accentia plans to build on its acquired Oak Technologies base through aggressive human resource development over the next two years. Accentia plans to add about 2,000 more personnel at the above mentioned locations. Accentia aims at a HR pool of 5,500 by the end of 2008-09 financial year, the Company said in a release here today.

UNI

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