SRIT forms a Joint Venture Company in Australia
Bangalore October 9th 2007 : Sobha Renaissance Information Technology (SRIT) today announced its Joint Venture (JV) with Capital Technic Group (CTG), an Australian Management Consulting & Services firm. The joint-venture capitalized at Australian $ 2.5million aims to produce $ 7.5mill in annual revenues (year 2) ramping up to $ 65mill (year 5).The joint-venture, Sobha CTG Solutions Australia Pty Ltd., will launch SRIT’s products and services in the Australasian markets, while SRIT will enhance the growth of CTG’s consulting services in the realm of ICT. Structured as a 50:50 JV, Sobha CTG Solutions Australia Pty Ltd. aims to enter the Australasian ICT markets in the areas of healthcare, telecoms and enterprise. While the joint venture company has been registered as Sobha CTG Solutions Australia Pty Ltd, the trade name has been set as, ‘Sobha CTG Solutions’.
