Hyderabad, Apr 25: In a bid to broadbase its business plans, the Rs 2,000-crore Nagarjuna group has decided to foray into a highly lucrative information technology business. The group announced here on Saturday that it has entered into a joint venture agreement with Bangalore-based Infoquest Systems Pvt Ltd to realise its dream to become a global player in software development industry.Infoquest was promoted by Satya Bolli, former promoter of Sriven Computer Solutions and an NRI with two of his associates. It offers a high quality business solutions in the areas of web & e-commerce, systems integration and ERP.
While the Nagarjuna group chairman KS Raju will be the new chairman of Infoquest, Satya Bolli will be vice-chairman and chief executive officer of the company.
With this joint venture, the Nagarjuna group plans to make its presence felt in the global information technology industry.
According to the Nagarjuna group officials, the joint venture will be of 50:50 partnership between Nagarjunagroup and Satya Bolli. However, they could not give other details of the project as they were yet to frame out the action programme. Infoquest Systems will be converted into a public limited company in the due course, said officials.
In his previous assignment, Satya Bolli had promoted Sriven Computer Solutions in Hyderabad which was hived off to the US based Metamor. Under his stewardship, Sriven had achieved export revenues exceeding $40 million a year with 700 employees on its rolls.
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