Aftek to form JV with ESG Electroniksystem-und Logistik GmbH

Aftek Ltd has announced that the Company and major European software and systems Company ESG Electroniksystem-und Logistik GmbH on March 01, 2007 announced their intention to form a joint venture to exploit opportunities in Europe and India.

Ranjit Dhuru, CMD of the Company said, "We already have a strong presence in Europe through Arexera Information Technologies, our Germany-based 100% subsidiary. The strengthening of the relationship with ESG will help us deliver quality software services to its list of marquee clients."

While details of the joint venture including ownership pattern and equity structure etc. are being worked out, it will essentially look at three different market opportunities. First is the possibility of offshoring work to India for ESG's clients in the automotive sector. Second is helping the Company spread its presence across Europe, using ESG's reach, market penetration and relationships. Thirdly, the JV will look at marketing ESG's expertise in the Defence, Aerospace, Public Sector and Logistics market segments to clients in India.

Source : Equity Bulls

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