Omnitech InfoSolutions Ltd, India’s leading Business Availability and Business Continuity services provider today announced its expansion plans for the Far East and European Market. The company has entered into joint venture with Singapore based technology company Attiva Services Pte. Ltd. Attiva is a start-up company specialized in Strategic IT Consulting, Infrastructure and Application Services and caters to Banking Financial Services & Insurance segment.
The promoters of the said company have more than 60 man years of collective experience in the BFSI domain with an in depth knowledge of the industry trends and the market potential therein. Through JV initiative, a new company named ‘Omnitech Services Pte Ltd.’ has been incorporated in Singapore with Omnitech contributing a majority stake of 55%. Omnitech plans to enter and tap the potential in the Far East market through this new entity. Omnitech will invest around US$1mn over a period of 12-18 months. The newly formed entity expects to generate US$40mn revenue over a period of 3 years.
Commenting on the Joint Venture Atul Hemani, Managing Director, Omnitech InfoSolutions said, “This initiative will help the company to leverage on Attiva’s local presence and domain expertise for providing services in the areas of Remote Infrastructure Management, Performance management, Application Management and strengthen the Banking and Finance vertical in the organization to serve both domestic and global markets.”
Through this venture, Omnitech will have a strong foothold in Far East and it will add value to the company’s existing BFSI service offerings in domestic market. The newly formed entity will generate an employment of over 240 in Far East region over a period of 3 years.
Omnitech also announced the commencement of its new and wholly owned subsidiary in Netherlands - ‘Omnitech Technologies B.V’. Omnitech plans to invest around $1 million over a period of 12-18 months. Through the new subsidiary arm, Omnitech will strengthen its presence in the European market for offering its core products and solutions in Business Continuity and Business Availability space. Omnitech expects to generate close to 50 million Euros of revenues over next three years from this subsidiary.
Commenting on the announcements Atul Hemani, Managing Director, Omnitech InfoSolutions, said “We are growing rapidly and are expanding our global reach by venturing into un-tapped markets in Europe and Middle East region. We feel that these strategic moves will help us to capitalize the potential in mid market and further help us to provide valued services to our customers in domestic and overseas market.” Adding further he said, “Both the initiatives taken by the company are in fulfillment of the objects of public issue.”