Kaashyap Tech scouting for acquisition in e-governance services

IRIS
January 09, 2008

Kaashyap Technologies (KTL) is scouting for acquisition of the leader company in e-governance services to various states in the country and outside the country as well, so as to become 100 Million USD revenue company.

The company is in the process of identifying such a company engaged in developing e-governance infrastructure applications and having professionals, who have expertise in software engineering, architecture, system integration testing, business automation and technology. The proposed target company will be having a proven track record in providing e-governance solutions to many state governments.

Sanjay Bhardwaj, chief executive officer of the company has been authorized by the management to do the due diligence for the same and submit a feasibility report on acquiring a leading company engaged in e-governance services to the board of directors in its subsequent meeting.

Shares of the company declined Rs. 0.43, or 4.98%, to trade at Rs. 8.21. The total volume of shares traded was 948,993 at the BSE. (1:39 p.m., Wednesday)