India's i-flex to buy Capco's Singapore business
MUMBAI (Reuters) - Indian software firm i-flex solutions Ltd., a unit of Oracle Corp., said on Wednesday it was acquiring the Singapore unit of Capco.
The acquisition of Capco Capital Markets Co. Pte. Ltd., through i-flex's Singapore unit, would strengthen i-flex Consulting, which provides services to banks in the Asia-Pacific region, i-flex said in a statement.
No financial details were disclosed.
Mumbai-based i-flex specialises in software for banks, insurance and financial services firms.
"We are witnessing strong business growth as several banks in the Asia-Pacific region, including Japan, undertake ... large-scale technology and consulting investments," said Vijay Sharma, Senior Vice President i-flex Consulting.
Ahead of the news, shares in i-flex ended up 0.07 percent at 1,961.90 rupees in a firm Mumbai market.
The acquisition of Capco Capital Markets Co. Pte. Ltd., through i-flex's Singapore unit, would strengthen i-flex Consulting, which provides services to banks in the Asia-Pacific region, i-flex said in a statement.
No financial details were disclosed.
Mumbai-based i-flex specialises in software for banks, insurance and financial services firms.
"We are witnessing strong business growth as several banks in the Asia-Pacific region, including Japan, undertake ... large-scale technology and consulting investments," said Vijay Sharma, Senior Vice President i-flex Consulting.
Ahead of the news, shares in i-flex ended up 0.07 percent at 1,961.90 rupees in a firm Mumbai market.
Source: Reuters
posted by anandsonline @ Thursday, January 04, 2007
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