"We are set to acquire two software companies, one each in US and Europe, with an investment of approximately $18 million," Aptech president & CEO Ganesh Natarajan told The Financial Express. He, however, declined to disclose further details on the two companies.

The company has invested close to $12-13 million to acquire US-based IT companies, Mentorix and Specsoft. "We have planned to acquire a total four companies abroad with an investment of $30 million," Mr Natarajan said."The software business of the company is set to increase to Rs 500 crore by December 2002 from the existing Rs 275 crore, both through acquisitions as well as organic growth", he said. The company has chalked out a business strategy to achieve an overall sales target of Rs 1,000 crore by December 2002, he added. The company is all set to touch Rs 800 crore turnover by December 2001, he said, adding that the 60 per cent of company's total business is contributed by its training activities and balance 40 per cent is equally shared by IT products (software) and IT-enabled services.

It is understood that the company has achieved a sales volume close to Rs 550 crore in January-December 2001.

Aptech picks up 37.5% in Mentorix, eyes more cos Mr Natarajan, however, declined to disclose the financial figures of the company at this stage."We are also increasing our software-related activities in business processes operations (BPOs), including financial services, health-care services and manufacturing sectors.

Mr Natarajan was in Lucknow to address the business forum organised by IIM Lucknow. Aptech training division has five divisions, Aptech Computer Education, Arena for training in graphics, Asset for software technology development course, Online varsity providing virtual training and Aptech International which has 120 centres in different parts of the globe including Asia,Africa, Germany and UK.

Stating that the burst of dotcom bubble does not mean the end of e-commerce, Mr Natarajan said: "Large companies are themselves developing their e-commerce models, both in the fields of business-to-business commerce as well as reaching directly to their consumers".

"There is tremendous potential of growth for us even in this new e-commerce scenario as we can develop software for such companies as well as train their staff, he said, adding that, "the company has helped Bajaj Auto, Castrol and Samsung electronics to establish direct link between their distributors and suppliers through Aptech developed software E-link". Aptech is exporting 50 per cent of its software products.