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Infotech eyes two acquisitions in aerospace sector

India: Infotech Enterprises, a Hyderabad-based provider of engineering design, geospatial information and IT services, is planning to close “two good-sized acquisitions” in the aerospace domain in the next six months, said Krishna Bodanapu, senior vice-president (manufacturing services).

Infotech is targeting firms that have the right set of skills and nearness to customers in the US, besides looking at companies that will help increase its competency in terms of delivery in China, Romania, India and Russia in the areas of geographic information systems (GIS) and engineering within the design space, Bodanapu said, adding the company proposes to fund its acquisition plans from the $75 million (Rs 367.5 crore) it had raised in 2007 through private placement of 15 per cent of its equity stake.

Bodanapu said the company was encashing on the opportunities provided by the defence offset programmes and has recently signed an agreement with Eurocopter for the Indian Ministry of Defence’s 193-attack helicopter programme. Whose upfront cost is estimated at $2 billion.