Infotech Enterprises acquires Wellsco, Inc.

10 August 2010, 8:42am

Hyderabad, August 10th, 2010: Infotech Enterprises Limited, a global technology solutions provider with headquarters in Hyderabad, India, announced today that it’s wholly owned subsidiary Infotech Enterprises America Inc. (IEAI), has acquired Wellsco Inc., located in Paragould, Arkansas, USA.

Infotech is an acknowledged global leader in the Geospatial and Engineering Services market space and over the last 18 years has built strong network engineering, product engineering and content engineering businesses in over 14 countries worldwide. Leveraging these skills, Infotech has established a very strong presence in various verticals, including Power Utilities and Telecoms.

Towards achieving its vision of ‘Delivering innovative solutions together for a better future’ and becoming a US$1 Billion enterprise, Infotech has focused on the following strategic initiatives:

· Strengthening its domain expertise in new market segments within existing industry verticals.

· Establishing a global network of engineering centers that offer its customers the right mix of proximity, skills and price.

· Forging strategic, long-term relationships with specific named accounts.

As a part of executing these strategic initiatives and after carefully evaluating various options, Infotech is delighted to announce that it has acquired Wellsco in an all-cash deal. Wellsco is a focused Engineering Services provider to the US telecommunications industry. Headquartered in Paragould, AR, Wellsco has over 180 employees located across 5 offices. It has some of the largest Telecom companies in the US as its long term customers.

Commenting on the acquisition, Mr. BVR Mohan Reddy, Chairman & Managing Director of Infotech Enterprises Ltd said, "The Telecommunications Industry has always been an important market for Infotech and telecom network design and engineering has emerged as an excellent growth area for us. With this acquisition, Infotech gains access to the deep domain skills and experience of the local Wellsco team, which combined with strong, long-term customer relationships and US delivery capability, will serve to accelerate our growth. We have been very impressed with the management and technical teams at Wellsco, as well as with their vision towards attaining a leadership position. Combined with our mature processes and ability to scale customer relationships, we are confident that we will leverage this acquisition to create strong momentum and further enhance our leadership position in the Network Engineering Services market space."

Mr Jim Wells, President of Wellsco, Inc. said, “We believe we have found an excellent partner in Infotech Enterprises and are very excited about joining a global leader focused on network engineering services. Infotech’s complementary skills, financial strength and global resource pool complement Wellsco’s strong national presence and our long term relationships with various leading US telcos. We are confident that our combined and complementary strengths will further enhance our leadership position in this market. The entire Wellsco team is looking forward to this opportunity and it should be great news for our customers."

In a statement Mr. John Renard – President, UTG, Infotech Enterprises Ltd said, "All market indicators suggest that we are at the early stages of the next major transformation of fixed and wireless networks as consumers continue to demand ever higher bandwidth and network capacity. US$20bn needs to be spent in the US alone on next generation fiber networks. With its national coverage, focus on engineering services and some marquee customers, we believe bringing Wellsco into the Infotech fold will give us an unrivaled leadership position in terms of addressing these opportunities. We are delighted to welcome Jim Wells and his entire Wellsco team to Infotech and very much look forward to working with them."

Infotech Enterprises

Geo: International