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| Paris-based Atos buys Venture Infotek |
| Sudeep Jain & Shivani Shinde / Mumbai Aug 27, 2010, 02:27 IST |
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France-based Atos Origin, an information technology services and solutions company with a ¤5-billion turnover, enters the Indian payments market by acquiring Mumbai-based payment processing firm Venture Infotek in an all-cash deal, said sources.
"Venture Infotek has signed the deal with Atos Origin. The Paris-based firm was looking at increasing its footprint in the India payment industry and this will give them a strong foothold here," said a senior executive at Venture Infotek, on condition of anonymity.
Atos has a presence in the payment services segment globally under its subsidiary, Atos Worldline, which has revenue of ¤844 million and a headcount of 4,800.
Atos Origin competes with Indian IT service companies. It already has a presence in India, employing 4,000 people in the country.
With the Venture acquisition, Atos Worldline will add 500 employees and expect to track additional revenues of ¤30 million (Rs 180 crore).
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