Bangalore, Feb 20 (UNI) City-based Nexxoft Infotel Limited, a leading provider of advanced manufacturing technology solutions, today announced that it has set up a base in Mumbai by acquiring 100 per cent business of Mumbai-based software company eZeesoft (P) Limited.
Through the acquisition, Nexxoft would not only take over the entire business of eZeesoft, but also absorb the current staff strength of 25, besides operating out of the premises of eZeesoft, a company release here said.
Nexxoft Director G Dhananjaya Reddy said ''our key strengths are in the manufacturing domain. This acquisition helps us set up base in Mumbai and target a large number of manufacturing industries based in Maharashtra and Gujarat. eZeesoft has good operational experience in the manufacturing industry. After taking over the business, Nexxoft is poised to grow faster in this sector. We are planning to ramp up the head count to 50 and beyond by March this year in this vertical.'' For the third quarter ended December 31 last, Nexxoft's net profit surged by 49.61 per cent to Rs 8.75 million, up from Rs 5.85 million in the same period last year on a consolidated basis. Total income for the same period was up by 105.69 per cent at Rs 31.57 million. The income growth was mainly driven by growth of Supply Chain Practices.
UNI
Through the acquisition, Nexxoft would not only take over the entire business of eZeesoft, but also absorb the current staff strength of 25, besides operating out of the premises of eZeesoft, a company release here said.
Nexxoft Director G Dhananjaya Reddy said ''our key strengths are in the manufacturing domain. This acquisition helps us set up base in Mumbai and target a large number of manufacturing industries based in Maharashtra and Gujarat. eZeesoft has good operational experience in the manufacturing industry. After taking over the business, Nexxoft is poised to grow faster in this sector. We are planning to ramp up the head count to 50 and beyond by March this year in this vertical.'' For the third quarter ended December 31 last, Nexxoft's net profit surged by 49.61 per cent to Rs 8.75 million, up from Rs 5.85 million in the same period last year on a consolidated basis. Total income for the same period was up by 105.69 per cent at Rs 31.57 million. The income growth was mainly driven by growth of Supply Chain Practices.
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