India’s key cigarette company, the ITC Limited announced on Tuesday, August 19 that its information technology arm ITC Infotech has bought Pyxis Solutions, a technology company based in United States. The Indian company, however, did not divulge how much the acquisition of the US firm, cost.
Y.C. Deveshwar, the chairman of ITC, had hinted previous month that the company was negotiating to buy out a US technology company. He said that the acquisition would be made through the ITC Infotech. The ITC Limited has presence in technology outsourcing, retail and packaging. In order to cut its dependence on cigarettes, the ITC is also spreading its branches into an array of foods and personal care products section.