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Engineering and Information Technology firm Rolta India acquired U.S. based solution provider for oil and gas refineries, Piocon Technologies Inc, the company said on Monday (29th December). The financial details of the transaction were not immediately available.
Chicago-based Piocon Technologies Inc. provides information technology solutions to corporate and institutional clients. The company offers system integration, application architecture designing, data warehousing, and enterprise software development.
The latest acquisition is a part of Rolta's systematic growth plans to provide configurable solutions that address the real challenges faced by industry today.
Rolta chairman and CEO K K Singh said in a filing to the Bombay Stock Exchange that the acquisition will help Rolta to fulfill a critical and strategic need of the process and power industries, at a time when every plant is challenged to improve operating efficiencies.
According to analysts, with Piocon the Indian firm has acquired its track record of over 15 years, a significant customer base including Fortune 100 companies, highly experienced consultants, unique methodologies and technologies, ongoing customer contracts, and a profitable revenue stream in a fast-growing market.
