Mumbai-based Amex Info buys UK firm

Amex Information Technologies, a Rs 26 crore Mumbai-based information technology company, has acquired an UK-based telecom project company, Siacom for an all stock deal valued at Rs 16 crore.

The company has allotted shares of its wholly owned subsidiary, Vishal Info to the UK-based firm.

Dilip Parekh, administrator, and finance director, "The deal will help the company will give a big boost to company's telecom business from next fiscal and is likely to add around Rs 90-100 crore to its revenues next year."

Parekh also added, "The deal will help the company to cater to some of the big telecom companies in the country."

Further, Vishal Info would be listed on the stock exchanges in the next 9-12 months as a part of the deal.

The telecom policy 1999 permits Internet Service Providers (ISPs) to process and carry voice signals.

Though Amex Information is not an ISP, the acquisition of Saicom will help the company in terminating Voice Over Internet Protocol (VoIP) from any personal computer in the world to any telephone through the switch situated in UK owned by Saicom, Parekh informed.

Amex Information is also engaged in business biometrics solutions and document management services. Further, it offers complete solution in pay-roll systems, bank lockers and online banking and stock trading.