MphasiS To Buy Shanghai Firm

Bangalore, October 25: | Updated: Oct 26 2002, 05:30am hrs
MphasiS Group, a leading provider of system integration technology and IT enabled services has announced its plan to acquire Navion (Shanghai) Software Development Co Ltd, a software development based in Shanghai, China. The acquisition would make MphasiS one of the first Indian IT services company to establish its presence in China by having a development centre.

Commenting on the acquisition, MphasiS chairman and CEO Jerry Rao said, this acquisition would provide MphasiS an alternative bandwidth outside the Indian sub-continent and enable us to explore the opportunities which China provides as an IT service destination and to serve the Chinese market better. It would also enable the company to offer its customers the option of choosing their offshore development location, he added. However, the company refused to provide the cost and other details of the proposed acquisition.