Duo enters into Agreement
2012-05-03The Board of QuantM Net Technologies Limited has announced that the Company has entered into an agreement with TeamworQ Solutions Private Ltd to acquire a controlling interest in the Delhi based premium information technology services and software product company. This investment will accelerate QuantM's strategic efforts to capitalize on the growth opportunities within the Indian and global market. This strategic investment is expected to expand QuantM's growth potential and create value for shareholders.
Pawan Khurana, CEO, QuantM said, “QuantM was looking forward to compete with global leaders like Wipro, TCS and HCL by offering complete IT System Integration services including the Hardware and Software offerings. Looking at the high growth of the enterprise application market, presenting a good opportunity for growth, this was the next frontier for our growth strategy. The combined opportunity for servers, storage and systems software for technical computing is over $14 billion in 2011 and is expected to grow over 8 percent annually to $18.5 billion by 2014, according to IDC. With the roadmap of the growth plan, one investment opportunity that we saw as a possibility was to acquire an enterprise software application firm.”
The new strategic approach will position QuantM and TeamworQ as end-to-end solution providers and technology consultants, rather than companies offering mere technology solutions across different domains.
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