Rolta buys AdvizeX for $32 million; shares up

Rolta India, a provider of information technology services, has acquired US-based AdvizeX Technologies, LLC, for $32 million ( around Rs 174 crore).

AdvizeX provides hardware, software and specialised advisory and technology services for implementing cloud computing and virtual data centres, Rolta said in a release to the exchanges.

The acquisition will bring 2,500 customers to Rolta’s fold, the release said.

At 12:28 a.m, shares of Rolta India were up 0.5 percent at Rs 65.40.

[caption id=“attachment_516036” align=“alignleft” width=“380”] Rolta expects to close the deal by December-end.[/caption]

The Indian company expects the acquisition to help grow its top line and bottom line by 15-18 percent a year, KK Singh, Chairman and CEO KK Singh told television channel ET Now.

He said earlier the growth was seen at 10-12 percent.

Rolta expects to close the deal by December-end. The deal will add four to five large customers to the company, Singh told the channel.

He said the company is looking to buy companies that give access to market and also niche products.